Youth unemployment passes 50pc in Spain and Greece - Telegraph
Youth unemployment now exceeds 50% in both Spain and Greece as the number of people out of work in the eurozone as a whole hit a 15-year high of 17.2million.
The rise in Spain and Greece reflects the deep financial woes of both countries, which are in the midst of far-reaching and highly unpopular austerity programmes, considered necessary by the broader EU to reduce huge deficits.
Spain's unemployment rate now stands at 23.6pc, compared with a eurozone average of 10.8pc. The extent of Spain's problems are further underlined by a housing market in crisis, with prices expected to fall the most on record this year. One-in-four homeowners in the country owes more than their property is worth.
Deep shit heading our way......
Youth unemployment now exceeds 50% in both Spain and Greece as the number of people out of work in the eurozone as a whole hit a 15-year high of 17.2million.
The rise in Spain and Greece reflects the deep financial woes of both countries, which are in the midst of far-reaching and highly unpopular austerity programmes, considered necessary by the broader EU to reduce huge deficits.
Spain's unemployment rate now stands at 23.6pc, compared with a eurozone average of 10.8pc. The extent of Spain's problems are further underlined by a housing market in crisis, with prices expected to fall the most on record this year. One-in-four homeowners in the country owes more than their property is worth.
Deep shit heading our way......