As the May 6 election approaches, the Greek economy is in its third year of severe austerity and fifth year of economic decline, with no evidence that the trend is likely to be reversed this year, next year or even subsequently. In terms of the length and severity of the economic decline and the lack of any apparent light at the end of the tunnel the situation in Greece might be compared with that of European countries at the time of the great slump which started in the late 1920s. In addition, with the situation in Greece being even worse than in other vulnerable countries like Portugal and Spain, and with debts ... (full story)