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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (718700)5/31/2013 1:22:35 PM
From: tejek  Read Replies (1) of 1583222
 
The unemployment rate for the overall eurozone masks sharp disparities among individual countries. Unemployment in Greece and Spain top 25 percent. In Germany, the rate is a low 5.4 percent.

The differences are particularly stark for youth unemployment. More than half of people ages 16 to 25 in Greece and Spain are unemployed. In Italy, the rate for this group tops 40 percent. For Germany, it's just 7.5 percent.

A key factor behind Europe's economic decline has been a broad focus on paring debt by raising taxes and slashing spending. As long as many governments continue to cut spending and the confidence of consumers and businesses remains low, economists don't expect any meaningful recovery in coming months.

I saw that..........pretty depressing stuff. The German conservatives are doing the same thing the wingers here would have had us do. Its the most insane approach to dealing with a recession and the Germans are doing it for the same reason...........to protect their wallets. Its such a short sighted and ultimately defeating approach..................its so pathetic, my German friends are embarrassed to talk about it even as they support Merkel. Hopefully, they will wake up and smell the coffee........sooner rather than later.

And btw, I think the EU needs to be restructured so that the Germans or any one state has so much control.

What do you think?
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