THE EURO AIN’T WORKING…
Did you read that the unemployment rate in the 16 countries that use the euro rose more than expected and to the highest level for a decade in May as more companies laid off staff in a bid to survive the deepest recession since World War II?
The euro-zone jobless rate rose to 9.5% in May from an upwardly revised 9.3% in April, the highest level since May 1999 and 2.1 percentage points higher than in May last year, the European Union’s Eurostat statistics agency said. The increase was stronger than the market consensus estimate of a rise to 9.4% from a Dow Jones Newswires survey of economists last week. April’s jobless rate was also revised up from 9.2% reported last month. Eurostat said 273,000 people joined unemployment queues across the euro zone in May, bringing the total
number of jobless to 15 million, more than the entire populations of Austria and Ireland combined.
Given the relentless immigration that has characterised the Eurozone as millions surge in from the third world and combine that with 15 million unemployed with unaffordable socialist economic models and you have a recipe for meltdown.
Let’s face it – the Eurozone ain’t working.
We have seen nothing yet,this recession will last 20 years. UK and Europe’s fixed costs and red tape employment legislation make manufacturing pointless when having to compete with China imports .Europe will become a stagnant backwater having to print more and more money to survive. Socialist Utopias never have happy ending