Snufkin
pfm Member
God knows how....
https://www.bbc.co.uk/news/business-49998074
https://www.bbc.co.uk/news/business-49998074
As the Reuters article suggests it looks like Germany is sticking to its flawed policy of economic austerity. That will pretty much kill any prospect of growth in current conditions. It's making the same mistake the UK made from 2010 onwards.
Buoyed by a strong oil sector in the 1960s and 1970s, Venezuela's governments were able to maintain social harmony by spending fairly large amounts on public programs including health care, education, transport and food subsidies. Literacy and welfare programs benefited tremendously from these conditions.[39] Because of the oil wealth, Venezuelan workers "enjoyed the highest wages in Latin America".[40] This situation was reversed when oil prices collapsed during the 1980s.
overreliance on oil prices and a fractured political system without parties agreeing on policies caused many of the problems.
According to the misery index in 2013, Venezuela ranked as the top spot globally with the highest misery index score.