“The less flexible European economies will lose at least 15% of their GDPs”

In sum, the less flexible European economies will lose at least 15% of their gdps, due to trade and technology.

There is then the question of what the path downwards will look like and feel like. Being in the eurozone makes adjustment much harder, and brings the doom more quickly, for reasons which are by now well-discussed.

The initial path looks like this. […]

http://marginalrevolution.com/marginalrevolution/2013/04/another-way-of-thinking-about-the-european-economic-collapse.html
https://news.ycombinator.com/item?id=5531775