THE eurozone’s economic growth is set for another blow in the coming years, as its ageing workforce is a crisis in waiting, the International Monetary Fund (IMF) has warned.
On top of high unemployment and huge debt levels, policymakers could have to deal with tumbling productivity from workers, according to research by the Washington-based fund.
It is already known the number of eurozone retirees compared to people of working age is on track to ballon over the next couple of decades – putting a larger strain on state resources. Continue reading
Tag Archives: high unemployment
Risk of Bank Failures Is Rising in Europe, E.C.B. Warns
The European Central Bank warned on Wednesday that the euro zone’s slumping economy and a surge in problem loans were raising the risk of a renewed banking crisis, even as overall stress in the region’s financial markets had receded. Continue reading
Open letter to the American people: We Soviet emigres have already seen this movie
Am I to believe that I have wasted forty years of my life in this country trying to explain the nature of dictatorship and what it meant to have been born and lived in Stalin’s paradise the first half of my life?
Have I failed to pass on to you my first-hand knowledge of the misery of millions of those gullible, trusting Russian people, who fell prey to the fiery, well-rehearsed speeches of those eloquent Marxist social-revolutionaries, who promised fraternity, equal rights, free medicine, free education for all, good life, and sharing the wealth of the rich only to find themselves trapped for life in that socialist, inhuman, criminal “experiment.” What did the Russians get instead? Lies, empty promises, high unemployment, and more lies.
‘Eurozone austerity measures to spark uncontrollable protests’
An economic commentator says the harsh austerity measures implemented in the Eurozone are likely to provoke massive protests in the bloc, which could be beyond the control of the ruling elite
So as long as the governments in Europe continue to beat the drum of austerity measures, it will reflect in high unemployment because effectively what you see is that when there is austerity measures, the government is not spending money, the unemployment register increases, when people are unemployed they are unable to pay their taxes, they do not have enough money to buy products in the economy so it becomes a very circular situation and we the demonstrations in most of the European countries on the Labor Day, strikes in France, in Spain, in Italy, in UK and most of the other countries.
So the recession is really here to stay, I think, and all these measures which are being taken, the fiscal measures, the fiscal difficulties that are being faced by Eurozone countries will not go away by austerity measures.
This is not just [what] I as an individual economic commentator [am] talking about; most of the analysts, most of the fair-minded commentators are really talking about this particular issue, that the more we want to implement austerity, the more difficulties the Eurozone economies will face. There is no doubt at all in my mind about this.
Full article: ‘Eurozone austerity measures to spark uncontrollable protests’ (Press TV)