The Difference Between Spain and Greece in One Simple Chart

There's a huge gap

@TheStalwart's Killer Chart: Confidence Collapse?

Today's chart tells an important story about the recent history of the eurozone. For a long time, economic confidence in Spain and Greece moved roughly in the same direction at the same time. They both collapsed during the first wave of the crisis starting in 2010 and they both recovered nicely between 2012 and 2014. 

Then: A divergence. As you can see, Greek economic confidence absolutely fell off a cliff at the end of 2014, when it became clear that there would be new elections and a possible change of political course. The collapse continued throughout the beginning of the year, as Syriza's negotiations with creditors accomplished little. Meanwhile, Spain's economy continues to come back to life and economic confidence there is now on a nice uptrend.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE