Spain tops ‘misery’ list
Like a Lonely Planet guide for unhappy places, Moody´s has compiled a list of miserable countries for 2010 — something to keep in mind for the new year if you´re going to travel but don´t want it to lift your spirits.
Spain tops the “misery index” because, in spite of its sun-drenched landscapes, world-class museums and mind-boggling ancient architecture, its economy is the most dismal according to the index, which combines unemployment rates with budget deficits to arrive at some not-very-encouraging numbers.
Other economies high on the 16-country misery tour are Latvia, Lithuania, Ireland and Greece. The U.K. is the most miserable G-7 country, at No. 6 on the index, with the U.S. in seventh.
The Moody's gauge follows a tool created by U.S. economist Arthur Okun in the 1970s that adds unemployment and inflation rates to grade an economy´s level of misery.
