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We returned to our Pre Recession growth levels 3 years ago. We should be grateful we have done as well as we have, considering what a difficult situation we all faced.
Why is it so hard for Southern Europe to make jobs for its people? With demographics like they have and so few young people entering the workforce I just can't understand why Spain and Greece and Italy have such high unemployment rates.
Why is it so hard for Southern Europe to make jobs for its people? With demographics like they have and so few young people entering the workforce I just can't understand why Spain and Greece and Italy have such high unemployment rates.
Simple - they made the mistake of joining the Euro, which favors the wealthier northern countries. They have no way of devaluing their currency to make their exports competitive, and also, they're subject to the iron hand of austerity forced upon them by the northern countries. If they were able to go back to drachmas and liras and pesetas, I think they'd be a whole lot better off.
Many of the countries in the Euro have struggled, in terms of the UK which was hit hard by the financial crisis in 2008 due to it's large financial sector, it is growing steadily with output set to grow beyond post crisis highs shortly.
Why is it so hard for Southern Europe to make jobs for its people? With demographics like they have and so few young people entering the workforce I just can't understand why Spain and Greece and Italy have such high unemployment rates.
They have always struggled. Before EU was formed, many spoke against having those three countries join in, because of their long history of economic troubles. In Spain 8% is considered very good news, and they have not been below 8% since 1980. They had 20% unemployment when they joined EU.
16 of 18 EU countries have not returned to Pre Recession growth levels
The difference between them and us is the fact that they do not put their energy into blaming and sabotaging themselves like we do. We'd be light years ahead of them if we stopped doing that to ourselves.
Why is it so hard for Southern Europe to make jobs for its people? With demographics like they have and so few young people entering the workforce I just can't understand why Spain and Greece and Italy have such high unemployment rates.
Low productivity compared to Germany, Netherlands, and Nordic countries but comparable labor cost is the culprit. Either lower wages to account for the lower productivity or keep their 25% unemployment rates are their options.
The difference between them and us is the fact that they do not put their energy into blaming and sabotaging themselves like we do. We'd be light years ahead of them if we stopped doing that to ourselves.
We are ahead of them. They are still not back to pre Recession levels, we did that in 2011.
We are ahead of them. They are still not back to pre Recession levels, we did that in 2011.
I said we'd be light years ahead of them, but we are not. The fact that they are recovering slower than us is nothing to brag about. We need to stop sabotaging ourselves, and we'd leave them in the dust.
They have always struggled. Before EU was formed, many spoke against having those three countries join in, because of their long history of economic troubles. In Spain 8% is considered very good news, and they have not been below 8% since 1980. They had 20% unemployment when they joined EU.
Jesus. Look at those rates going back to the 80s. The only time Spain has had under 10% over at least the past 30 years is that brief period from 2005-2008. Is it because of the government? The culture of the people? Why Northern Europe would want to attach itself to a country such a mess as this one is beyond me.
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