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A Look at Europe's 'Scary Numbers'


The euro zone crisis has entered an even more volatile phase, with investors waiting with bated breath to see the results of Greek elections on June 17. Meanwhile, Spain is under siege as investors fear the country will have to ask for a bailout, following in the footsteps of Greece, Ireland and Portugal.

LdF | Vetta | Getty Images

Analysts and lately officials such as the European Central Bank's head Mario Draghi have called on leaders in the European Union to act decisively to stop the crisis - but very few decisions have been taken so far.

Simon Derrick, head of the Bank of New York Mellon's currency strategy team, has put together some "scary numbers" about the euro zone crisis:

  • 970: The number of days the euro zone crisis has run for.
  • 16, 24 and 34: The number of days that Greece, Ireland and Portugal lasted before asking for bailouts after the yield gap between their 10-year government bonds and that of German Bunds broke above 500 basis points.
  • 31.7 billion euros ($39.1 billion): Decline in retail and corporate bank deposits in Greece between April 2011 and April 2012 (a 15.6 percent year-on-year decline).
  • 103.8 billion euros: Decline in retail and corporate bank deposits seen in Spain between April 2011 and April 2012 (a 6 percent year-on-year decline).
  • 97 billion euros: Amount of capital that left Spain in the first quarter of this year according to the Bank of Spain.
  • 23.5 billion euros: Amount of state aid pledged to Bankia since the Spanish government said in February that no more public money would be needed for its banks.
  • 62 Percent: Decline in the Spanish IBEX 35 since its peak in November 2007.
  • 5: Number of nations within the euro zone that have seen a change in political leadership over the past eighteen months (Ireland, Portugal, Spain, Italy and France). Both the Netherlands and Greece are waiting for the results of elections forced by the crisis.
  • 80.9 Percent: Of the 1,600 respondents polled by Greek polling firm GPO for private television channel Mega said they want Greece to remain in the euro zone at any cost.
  • 77.8 Percent: Of the 1,600 respondents polled by GPO for private television channel Mega said they want the memorandum of understanding to be amended.
  • 46 and 26 Percent: Percentage of Greeks polled by the Pew Research Centre that thought the euro has been a good thing compared to the percentage that thought it has been a bad thing.
  • 44 and 31 Percent: Percentage of Germans polled by the Pew Research Centre that thought the euro has been a good thing compared to the percentage that thought it has been a bad thing.
  • 37 and 41 Percent: Percentage of Spaniards polled by the Pew Research Centre that thought the euro has been a good thing compared to the percentage that thought it has been a bad thing.
  • 30 and 44 Percent: Percentage of Italians polled by the Pew Research Centre that thought the euro has been a good thing compared to the percentage that thought it has been a bad thing.
  • 71, 66, 60 and 52 Percent: Percentage of Greeks, Germans, Spaniards and Italians respectively polled in the same survey that wanted to keep the euro.
  • 40, 36, 32 and 23 Percent: Percentage of Italians, Spaniards, Germans and Greeks respectively polled in the same survey that wanted to leave the euro.

Contact Europe: Economy

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