User:Nick Gardner /Sandbox

s demonstrated in my recent book with Carmen Reinhart This Time is Different: Eight Centuries of Financial Folly , Greece has been in default roughly one out of every two years since it first gained independence in the nineteenth century.

http://www.project-syndicate.org/commentary/rogoff65/English

in

[1] Robert Chote et al: Britain's Fiscal Squeeze, the Choices Ahead, IFS Briefing Note BN87, September 2009

				2009				2010
	2007	2008	2009	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
GDP (% change on previous period)

Household Debt

(percentage of GDP}

	1997	2007
The United States	68	95
The United Kingdom	75	105
The Eurozone	42	60

(Source: approximate transcription from the Turner Report [2])

The growth of financial assets

(Financial assets as a percentage of GDP)

	1995	2005
The United States	303	405
The United Kingdom	278	359
The Eurozone	180	303

(Source: Martin Wolf: Fixing Global Finance, page 11, Yale University Press, 2009. )