Since 2007, these respective countries have seen their unemployment rates all skyrocket. Greece and Spain are leading the way, with U/R up more than a 300%.
The PIIG states are a dangerous combination of corruption, low wages, and tax avoidance that makes their political situation volatile. Add high unemployment to a middle class that has been pressured by harsh economic conditions, and you have circumstances right for disruption.
I am not a believer that Cyprus set the template for other European (read PIIG) deposit grabs, but it is becomes less unthinkable if the situation accelerates to the downside.
More on this later . . .
Global Financial Data
Ralph M Dillon March 26, 2013
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.