Since its onset at the beginning of 2008, real GDP and domestic demand have accumulated a decline of 6 and 16 percentage points respectively, 3.5 million jobs have been lost (nearly 20 percent of total employment), and the unemployment rate has soared by 18 percentage points to reach 26 percent.
This situation has been reached because internal imbalances have been compounded by the destabilizing effect of deficient European governance, hindering access to financing and increasing its cost.
