A Recovery… InBurglaries: Theft Surges InEuropeanPeriphery
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There is more than just loan delinquencies, unemployment rates, and PMIs that are on the rise in Europe. As wehavelong–feared, the relative austerity combined with high unemployment has historically always been a boiling pot for increased social unrest and it would appear this is very much the case among the most troubled peripheral nations in Europe. As Bloomberg’s Niraj Shah points out, burglariesinGreece (up a stunning 63%) andSpain (53.5%) havesoaredsincethe crisis beganin 2007. This compares with a European-Union-wide average increase of 7% (which is notable in and of itself) as Cyprus and Portugal also see ~20% increases in theft. With unemployment rates showing no signs of slowing, we suspect this trend will only get worse as the divide betweenthehavesandhave-nothingsincreases.

Source: BloombergBriefs

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