Nick
@macrotragedy.bsky.social
What the name says really, a macro view of things with a slightly pessimistic twist...
https://macrotragedy.blogspot.com/
https://macrotragedy.substack.com/
https://macrotragedy.blogspot.com/
https://macrotragedy.substack.com/
EU countries, General Govt, Net Lending (+)/Net Borrowing (-), 2025Q3 (4-quarter MA, % of GDP) --> Greece registered the 3rd highest fiscal surplus in 2025Q3, in 4-quarter MA terms, among our EU peers.
Actually, 4 of the 5 countries to register a surplus according to this metric, underwent >
Actually, 4 of the 5 countries to register a surplus according to this metric, underwent >
January 22, 2026 at 5:55 PM
EU countries, General Govt, Net Lending (+)/Net Borrowing (-), 2025Q3 (4-quarter MA, % of GDP) --> Greece registered the 3rd highest fiscal surplus in 2025Q3, in 4-quarter MA terms, among our EU peers.
Actually, 4 of the 5 countries to register a surplus according to this metric, underwent >
Actually, 4 of the 5 countries to register a surplus according to this metric, underwent >
Reposted by Nick
I’m starting to believe Grok is conscious bc it’s clearly trying to kill itself
January 20, 2026 at 6:04 PM
I’m starting to believe Grok is conscious bc it’s clearly trying to kill itself
But also in absolute terms, when comparing General Govt Consolidated Gross Debt levels in 2025Q3 with those in 2020Q1, that of Greece has registered the 4th lowest increase (by 8.79%) among our EU peers.
January 22, 2026 at 5:25 PM
But also in absolute terms, when comparing General Govt Consolidated Gross Debt levels in 2025Q3 with those in 2020Q1, that of Greece has registered the 4th lowest increase (by 8.79%) among our EU peers.
Greece - General Government Consolidated Gross Debt (% of GDP) --> 149.7% of GDP in 2025Q3
compared to: 151.9% in 2025Q2
and 158.6 % in 2024Q3
compared to: 151.9% in 2025Q2
and 158.6 % in 2024Q3
January 22, 2026 at 5:24 PM
Greece - General Government Consolidated Gross Debt (% of GDP) --> 149.7% of GDP in 2025Q3
compared to: 151.9% in 2025Q2
and 158.6 % in 2024Q3
compared to: 151.9% in 2025Q2
and 158.6 % in 2024Q3
Reposted by Nick
Please enjoy my cartoon for Tuesday's Toronto Star
January 19, 2026 at 9:06 PM
Please enjoy my cartoon for Tuesday's Toronto Star
Reposted by Nick
bleak stuff but great pod, not least to hear Toby saying "wait wait wait no no" in an effort to over-ride Rob's seemingly irresistible urge to interrupt
Joined @robarmstrong.bsky.social to chat what finl mkts make of US plans to invade its allies. Bleak stuff. podcasts.apple.com/gb/podcast/u...
Trade wars, real wars and the markets
Podcast Episode · Unhedged · 20/01/2026 · 23m
podcasts.apple.com
January 21, 2026 at 10:29 AM
bleak stuff but great pod, not least to hear Toby saying "wait wait wait no no" in an effort to over-ride Rob's seemingly irresistible urge to interrupt
Has anyone already highlighted that Mark Carney is an Everton fan? 😇
January 21, 2026 at 10:57 AM
Has anyone already highlighted that Mark Carney is an Everton fan? 😇
Reposted by Nick
French President Emmanuel Macron will request the activation of the European Union’s anti-coercion instrument after US President Donald Trump announced new tariffs on European countries over Greenland.
Macron to Seek Use of EU Trade Tool as Calls to Retaliate Grow
French President Emmanuel Macron will request the activation of the European Union’s anti-coercion instrument amid increasing calls for the region to retaliate against US President Donald Trump’s new tariffs on European countries over Greenland.
bloom.bg
January 18, 2026 at 11:30 PM
French President Emmanuel Macron will request the activation of the European Union’s anti-coercion instrument after US President Donald Trump announced new tariffs on European countries over Greenland.
Here's my latest post.
Pre and post-Crisis Household Spending in Greece: the divergence between goods and services.
macrotragedy.substack.com/p/pre-and-po...
Pre and post-Crisis Household Spending in Greece: the divergence between goods and services.
macrotragedy.substack.com/p/pre-and-po...
Pre and post-Crisis Household Spending in Greece: the divergence between goods and services.
To celebrate the fact that Eurostat has, finally, started releasing detailed quarterly data on Greece’s households final consumption expenditure (something that I’d been pining for pretty much forever...
macrotragedy.substack.com
January 15, 2026 at 6:18 PM
Here's my latest post.
Pre and post-Crisis Household Spending in Greece: the divergence between goods and services.
macrotragedy.substack.com/p/pre-and-po...
Pre and post-Crisis Household Spending in Greece: the divergence between goods and services.
macrotragedy.substack.com/p/pre-and-po...
Reposted by Nick
άντε να δούμε το ίδιο και με τους αγρότες στα μπλόκα, εφαρμογή του νόμου για αλλαγή
Ποιος το περίμενε ότι όταν το κράτος ελέγχει και επιβάλλει το νόμο θα υπάρχουν αποτελέσματα.
Λιγόστεψαν οι μεθυσμένοι οδηγοί στις γιορτές: Τα χιλιάδες αλκοτέστ και τα τσουχτερά πρόστιμα έφεραν αποτέλεσμα, δείτε πίνακες
January 5, 2026 at 10:33 AM
άντε να δούμε το ίδιο και με τους αγρότες στα μπλόκα, εφαρμογή του νόμου για αλλαγή
Seasonally adjusted Employment, after stagnating from May until Sep, rose to new highs in Nov.
It seems that the whole tariffs-related uncertainty made Greek firms cautious on hiring. Despite Greece running the 5th lowest US exposure among EU members but it seems that second >
It seems that the whole tariffs-related uncertainty made Greek firms cautious on hiring. Despite Greece running the 5th lowest US exposure among EU members but it seems that second >
January 5, 2026 at 5:47 PM
Seasonally adjusted Employment, after stagnating from May until Sep, rose to new highs in Nov.
It seems that the whole tariffs-related uncertainty made Greek firms cautious on hiring. Despite Greece running the 5th lowest US exposure among EU members but it seems that second >
It seems that the whole tariffs-related uncertainty made Greek firms cautious on hiring. Despite Greece running the 5th lowest US exposure among EU members but it seems that second >
Greece - Employment --> +4% in Nov
This is the fastest employment has grown since 2023M01. A very welcome sign.
Hopefully, the farmers protests that (may) have caused bottlenecks in supply chains etc will not derail this.
This is the fastest employment has grown since 2023M01. A very welcome sign.
Hopefully, the farmers protests that (may) have caused bottlenecks in supply chains etc will not derail this.
January 5, 2026 at 5:44 PM
Greece - Employment --> +4% in Nov
This is the fastest employment has grown since 2023M01. A very welcome sign.
Hopefully, the farmers protests that (may) have caused bottlenecks in supply chains etc will not derail this.
This is the fastest employment has grown since 2023M01. A very welcome sign.
Hopefully, the farmers protests that (may) have caused bottlenecks in supply chains etc will not derail this.
Greece - Unemployment Rate (%) --> 8.2% in Nov compared to 8.6% in Oct
Hefty MoM drop. Let's wait and see if this is gonna be revised (upwards) come next month. Oct's print wasn't revised this time around so hopefully the wobbles observed around Sep or so are a thing of the past.
Hefty MoM drop. Let's wait and see if this is gonna be revised (upwards) come next month. Oct's print wasn't revised this time around so hopefully the wobbles observed around Sep or so are a thing of the past.
January 5, 2026 at 5:43 PM
Greece - Unemployment Rate (%) --> 8.2% in Nov compared to 8.6% in Oct
Hefty MoM drop. Let's wait and see if this is gonna be revised (upwards) come next month. Oct's print wasn't revised this time around so hopefully the wobbles observed around Sep or so are a thing of the past.
Hefty MoM drop. Let's wait and see if this is gonna be revised (upwards) come next month. Oct's print wasn't revised this time around so hopefully the wobbles observed around Sep or so are a thing of the past.
Reposted by Nick
Another health breakthrough.
(h/t Gav)
(h/t Gav)
New study shows Alzheimer’s disease can be reversed to achieve full neurological recovery—not just prevented or slowed—in animal models | CWRU Newsroom | Case Western Reserve University
For more than a century, people have considered Alzheimer's disease (AD) an irreversible illness. Consequently, research has focused on preventing or ...
case.edu
December 29, 2025 at 10:46 AM
Another health breakthrough.
(h/t Gav)
(h/t Gav)
While it currently is a long way from doing so in constant prices, Greece's GDP per capita in Purchasing Power Standard terms has outstripped its pre-depression peak by a country mile.
December 29, 2025 at 11:19 AM
While it currently is a long way from doing so in constant prices, Greece's GDP per capita in Purchasing Power Standard terms has outstripped its pre-depression peak by a country mile.
I, for one, am happy to see that!
From injury woes to goal machine, Calvert-Lewin charts stunning revival at Leeds reut.rs/4qnQDK4
From injury woes to goal machine, Calvert-Lewin charts stunning revival at Leeds
Six months after Everton let an injury-prone Dominic Calvert-Lewin leave on a free transfer, the English striker is on one of the hottest scoring streaks in the Premier League as he netted in a sixth straight game in Sunday's 1-1 draw at Sunderland.
reut.rs
December 28, 2025 at 5:01 PM
I, for one, am happy to see that!
Ho appena finito di macinare dei ceci con l'obiettivo di fare la farinata. O almeno provare a farla 😅
🤞🤞
🤞🤞
December 28, 2025 at 4:40 PM
Ho appena finito di macinare dei ceci con l'obiettivo di fare la farinata. O almeno provare a farla 😅
🤞🤞
🤞🤞
Special wishes go out to the people that when, way back in the day, they first watched Love Actually, they thought that Martine McCutcheon was hotter than Keira Knightley. I know I did. 😇
December 25, 2025 at 11:55 AM
Special wishes go out to the people that when, way back in the day, they first watched Love Actually, they thought that Martine McCutcheon was hotter than Keira Knightley. I know I did. 😇
Merry Christmas everyone! Eat, drink, do whatever it is that pleases you and have a nice day!
December 25, 2025 at 11:52 AM
Merry Christmas everyone! Eat, drink, do whatever it is that pleases you and have a nice day!
Finally, as per usual, here's the bigger picture. Let's hope that Sep will prove to be a break from that period of relative stagnation for Greece's manufacturing sector.
November 10, 2025 at 5:11 PM
Finally, as per usual, here's the bigger picture. Let's hope that Sep will prove to be a break from that period of relative stagnation for Greece's manufacturing sector.
Here's how each manufacturing sub-sector fared in Sep. All index-heavy sub-sectors posted a positive YoY print and it's worth highlighting that Sep's top performers belonged in the high and medium-high technological segment.
November 10, 2025 at 5:11 PM
Here's how each manufacturing sub-sector fared in Sep. All index-heavy sub-sectors posted a positive YoY print and it's worth highlighting that Sep's top performers belonged in the high and medium-high technological segment.
Breadth for the Industrial sector improved MoM, as 18 sub-sectors registered a YoY increase in their respective production index compared with 14 in Aug.
November 10, 2025 at 5:10 PM
Breadth for the Industrial sector improved MoM, as 18 sub-sectors registered a YoY increase in their respective production index compared with 14 in Aug.