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With the explosion of the financial crisis back in 2008, many European countries thought they were facing a few tough years. However, the crisis went on and on, raising unemployment rates, inflation and national debts, and destroying people's dreams of good savings, early retirement and social security plans. The country has lost 26 percent of its GDP since the beginning of the European crisis, compared to Spain, Portugal and Ireland which have lost less than 7 percent. It's the only country within the EU where the minimum wage decreased with wages down 14 percent and the unemployment rate reached 26 percent, with youth unemployment at more than 50 percent. Last Monday, eurozone leaders offered a conditional deal to provide another bailout fund of 86 billion euros to finance Greece over three years.Whether this little country defaults on its debt or walks out of the eurozone is not all that observers are questioning. The European crisis doesn't look likely to end in the near future and the timing is bad for the EU.
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