Greece Is in Depression; Animal Spirit Is Negative
Greece looks in the doldrums even after subtracting deflation
An elderly man walks through an empty street in central Thessaloniki, Greece.
Photographer: Konstantinos Tsakalidis/BloombergThis article is for subscribers only.
How to measure the "animal spirit" of Greece?
By all accounts, the 11 million strong of the Hellenic Republic have endured their collective depression. But what could be considered a measure of how they are doing?