Spanish unemployment rate rises one full point to eurozone high of 21.3 per cent

Discussion in 'Europe' started by hvactec, Oct 22, 2011.

  1. hvactec
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    hvactec VIP Member

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    MADRID - The government says Spain's unemployment rate rose sharply to 21.3 per cent in the first quarter of 2011, leaving nearly 5 million people without work.
    The rate compares with 20.3 per cent at the close of 2010 and illustrates the huge challenges Spain faces as it tries to recover from nearly two years of recession and find a new economic model after depending for years on construction as the key driving force in its economy.
    read more Spanish unemployment rate rises one full point to eurozone high of 21.3 per cent
     
  2. Euro
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    Euro Senior Member

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    The problem is in southern europe. Because europe has a common currency called euro. The currency is regulated to meet a inflation goal of 2%. for the whole EU.
    Southern europe have always had a slower economical growth than northern europe. With a common currency they’ll get inflation in southern europe because of the faster growing northern europe.
    Then the economical engine in north has to bail out the countries in south, becuase of their slow growth.

    How can we make the hispanics,italians and greeks as productive as the northern europeans? How is it in the US, are hispanics as productive as northern europeans? If we can achieve equal growth in the countries then socialism will be working.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Unemployment in Europe hits an all-time high...
    :eusa_eh:
    Eurozone unemployment reaches new record high in April
    31 May 2013 - Unemployment in the eurozone has reached another record high, according to official figures.
     

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