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Bertelsmann Foundation study show Greece didn't benefit from joining the EU

The single European market has been a success for all member countries, with one excepton... Greece, according to a report by the Bertelsmann Foundation.

Published by the Bertelsmann Foundation, the research showed that in the EU bloc, Germany and Denmark benefited the most. Per capita, Denmark gained €500 a year, Germany €450. The lowest benefit was the UK, with an estimated benefit of a mere €10 per capita. This is partially explained by the UK staying outside the Eurozone.

One of the primary goals of the European internal market, concluded in 1992, was to raise the economic prosperity of EU citizens. The findings showed that Europe's convergence has had a fundamentally positive effect on these countries, although in vastly different ways.

While northern and central European countries rank near the top of the list, positive effects are less prominent in southern EU member states. The average annual increase in income due to rising European integration was around €80 per capita in Italy, in Spain and Greece the number was €70 and in Portugal €20.

The report notes that the single market is far from complete and notes six areas with high potential: logistics (land transport of freight), retail trade (trade in non-specialized stores), the hotel industry, construction of buildings, architectural and engineering activities and wholesale trade in construction materials.