http://www.ft.com/cms/s/0/79c2af12-0ba4-11e2-8e06-00144feabdc0.html#axzz2884Xx267
“This is what you have to do, if you want the people to build statues of you on horseback.” Valéry Giscard d’Estaing was doubtless being whimsical when he urged his colleagues to make bold decisions about the future of Europe. But the former French president’s remark offers a telling insight into the mentality that created the great euro-mess of today.
The EU is now having to deal with the consequences of the hubris of the “great Europeans” of a previous generation. The people who created the euro – men such as Helmut Kohl, the former German chancellor, and Jacques Delors, the one-time head of the European Commission – shared Giscard d’Estaing’s eye for the history books. But their dream of leaving a legacy of a United Europe, with a single currency at its core, has turned into a nightmare.
In the middle of a full-blown economic and political crisis it might seem pointless – or even vindictive – to criticise the statesmen of yesterday. But answering the question “who is to blame?” will be important in resolving the euro crisis. The country or groups that end up shouldering most of the odium for the crisis will emerge with their interests and worldview damaged and in retreat. Broadly speaking, there are three groups competing to be the villain of the piece: the Germans, the southern Europeans and the “Anglo-Saxons”.
Showing posts with label Ευρώπη. Show all posts
Showing posts with label Ευρώπη. Show all posts
Tuesday, 2 October 2012
Κι η ανεργία στην Ευρωζώνη τραβάει την ανηφόρα
http://www.ft.com/cms/s/0/8d3d76c6-0bb3-11e2-b8d8-00144feabdc0.html#axzz2884Xx267
Eurozone unemployment rate stayed at a record high in August, adding pressure on the European Central Bank to cut interest rates on Thursday in an attempt to ease lending and stimulate business across the debt crisis-hit bloc.
Joblessness in the 17-country euro area remained steady at 11.4 per cent in August compared with July, but rose significantly from a year earlier when the unemployment rate was at 10.2 per cent, said Eurostat, the EU’s statistical office. Youth unemployment – joblessness among under-25s – deteriorated further, rising to 22.8 per cent, up from 20.7 per cent during the same month a year ago, highlighting the extensive cost of the sovereign debt crisis on future generations.
A mixture of tough austerity measures and slowing demand for European goods forced 34,000 people out of a job in August, pushing the overall tally of unemployed people to 18.2m – roughly the population of Sweden, Denmark and Ireland combined. Since April 2011, the number of unemployed has risen every month, bringing the total out of a job to 2.64m.
Although unemployment rose at the slowest rate since April 2011, economists expect it to keep increasing given that business sentiment remains at record low levels and recent manufacturing data showed that output contracted for the 14th consecutive month in September.
Eurozone unemployment rate stayed at a record high in August, adding pressure on the European Central Bank to cut interest rates on Thursday in an attempt to ease lending and stimulate business across the debt crisis-hit bloc.
Joblessness in the 17-country euro area remained steady at 11.4 per cent in August compared with July, but rose significantly from a year earlier when the unemployment rate was at 10.2 per cent, said Eurostat, the EU’s statistical office. Youth unemployment – joblessness among under-25s – deteriorated further, rising to 22.8 per cent, up from 20.7 per cent during the same month a year ago, highlighting the extensive cost of the sovereign debt crisis on future generations.
A mixture of tough austerity measures and slowing demand for European goods forced 34,000 people out of a job in August, pushing the overall tally of unemployed people to 18.2m – roughly the population of Sweden, Denmark and Ireland combined. Since April 2011, the number of unemployed has risen every month, bringing the total out of a job to 2.64m.
Although unemployment rose at the slowest rate since April 2011, economists expect it to keep increasing given that business sentiment remains at record low levels and recent manufacturing data showed that output contracted for the 14th consecutive month in September.
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