Spectator on facebook

Spectator on facebook

Bloomberg lists Slovakia as among 15 most miserable countries

THE MISERY Index for 2015 sees Venezuela, Argentina, South Africa, Ukraine and Greece as the five most painful economies in which to live and work, based on Bloomberg data calculated via the equation: unemployment rate + change in the consumer price index = misery.

Illustrative stock photo(Source: SME)

Slovakia ranked 14. Among eurozone members, Spain, Portugal and Italy all ranked among the 15 as well. The war conflict has taken its toll not just on Ukraine but also on Russia which placed seventh. The chart comprises 51 countries, including all those in the eurozone.

Bloomberg quotes Milton Friedman, the late Nobel Prize winning economist, as saying that inflation is a disease that can wreck a society; add rising unemployment to the diagnosis, and his profession ascribes a rather non-technical term to the debilitating effect on people: misery.

The Denník N daily quotes economists of the governmental Institute for Financial Policy (IFP) as saying that behind Slovakia’s poor performance is the questionable methodology of Bloomberg to calculate the index. Moreover, none of the world's poorest countries are included in the chart. 

Top stories

Crates and boxes. Slovaks discover new ways of grocery shopping

Farmer’s boxes are gaining customers in Slovakia as people slowly become more conscious about quality and the origin of the food they eat.

Blog: Are flying cars coming to the skies?

At least 19 companies, including a Slovak one, are currently developing flying car planes, but there are still many issues that must be worked out.

AeroMobil

What kind of expectations do some Slovaks have for world leaders?

Among EU member states, opinions of the United States declined in all but two — Poland (which makes some sense) and Slovakia (which does not).

Donald Trump

The biggest antiquarian bookshop from Leopoldov is stored in Trnava Photo

The new year could bring a new cultural centre in antiquarian bookshop.

Archive photo