Citizens' assessments of their own economies (see Chart 1) show a clear North-South divide. This is the result of the euro crisis, which, ten years after its outbreak, has not yet been overcome despite the buoyant state of the world economy. The temporary "rescue" of the euro is attributable to the ECB's policies.
The chart shows the evolution of the interest rates in several major States. In the run-up to the introduction of the euro, interest rates levelled off and were very steady in the years before the crisis. For years, therefore, interest rates thus lost their function of exerting pressure on politicians. With the euro crisis, international investors got cold feet and started withdrawing their money from southern Europe (with the exception of France). The departure of not only Greece, but also of Italy and Spain was not beyond the realms of possibility.
List of references for the used photo and chart: