Ten most 'miserable' countries in the world

An index that works out a country's misery rating using a formula that includes four key economic variables has created a league table no nation wants to be part of.

Professor Steve Hanke, from The Johns Hopkins University, in conjunction with the Cato Institute creates the index by adding a country’s inflation, employment and lending rates before subtracting year-on-year per capita GDP. This Data for 108 countries was reported in 2014.

Click through our gallery below to uncover the world's top 10 most miserable countries.

New Zealand is the 84th most miserable, with high interest rates pushing it up, Australia is the 78th most miserable, the UK sits at 86, Fiji at 61, China at 106, the USA at 95 and Germany at 99.

Spain, with an unemployment rate hovering around 25 per cent, was in 16th place, more miserable than the Palestinian Territories, Kazakhstan, and Russia.