A study by the Germany’s Bertelsmann Institute published in German newspaper Deutsche Welle refers to the consequences of the economic crisis and years of austerity in South European countries. There has been an exacerbation of problems over the last two years, states the study published on Thursday. The research included data from 41 OECD countries, including Greece.
The Skandinavian countries were found to have the best results with Sweden ahead, followed by Switzerland and Germany. Countries like Norway, however, have been affected by the downward spiral of petroleum and even Sweden had been affected by the refugee crisis. The study found that wage inequality had increased in both Sweden and Denmark.
In Greece, one in five children were found to have been affected by the austerity imposed on the country as a result of the economic crisis. In Spain the amount was at 23 percent. Both countries had a high rate of youth unemployment, with almost half of young people being jobless.
The study found that industrial countries could not find solutions to their problems. It notes that there has been a hardening of the EU stand in matters such as the refugee crisis following World War II. The study warns that the European ideals are in danger of failure at a time when nationalism is on the rise.
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