Numbers never lie. However the fashion of macroeconomic valuation has a long history of interpreting partially the truth that numbers are intended to resonate. During the last four years, statistical numbers regarding the Greek economy have been interpreted by multiple economists, international investors, and public policy decision makers. Amongst many others, the most popular numbers regurgitated by mass media are the 60% youth unemployment, the 160% debt-to-GDP ratio, the 10% deficit, and the excessive credit default swaps (CDS) spreads widening. These numbers on the country’s current economic state, along with the inverting of the demographic age distribution pyramid, has led traditional methods of macroeconomic growth research to assure investors that the Greek economy has little or negligible growth potential. As a result, the public opinion has come to a consensus: the current Greek youth is a lost generation.
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