Italy, the only euro zone economic loser

Italy’s Gross Domestic Product has dropped by 0.4 percent since the country joined the euro zone. Even though Rome’s GDP expanded 6.2 percent since 98, its population has decreased by 6.6 percent, according Eurostat data, compiled by Bloomberg.

“The comparison with other countries clearly shows that the Italian economy has expanded at too-slow a pace over the period,” AG in Milan. “It will be very difficult for Italy to close, in the years to come, the gap with other economies that already returned to the pre-crisis level or even surpassed it,” said Loredana Federico, an economist at UniCredit Bank
Italy’s per-capita GDP in the last 18 years was the only one to drop out of all euro zone members. Even, Greece, which was hit by financial crisis, posted a 4 percent GDP growth since 1998.

Germany posted the biggest growth. Since joining the euro zone, its GDP grew by 26.1 percent.
Eleven members of the EU introduced the euro as an accounting currency in January 1999, So far, 19 EU member states have adopted euro.

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