Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Is Europe’s crisis worse than Great Depression? Statistics are hiding that the Eurozone’s economic stagnation is worse than the Great Depression. By Staff | November 5, 2014 | Last updated on November 5, 2014 1 min read The Eurozone’s economic stagnation is worse than the Great Depression, says Business Insider writer Tomas Hirst. Read: Help clients secure their retirements During the Depression, America’s GDP shrank by a third, and industrial production declined by nearly half, says Hirst. Between 2009 and 2014, the Eurozone’s GDP only dropped by 5%, but that number hides woes in many individual countries. For instance, Greece’s GDP decline by 25% between late 2007 and late 2013, writes Hirst. In Italy, unemployment is at 44%. Read more here. Also read: Op-Ed: Volatility’s antidote is U.S. economic growth U.S. rates may hike early, says Yellen Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo