Wednesday, January 9, 2013

"European Union Reports Highest Unemployment Rates Ever For Eurozone" By: Sydney Magnalll

    The European Union, the areas that use the euro, Are seeing their highest unemployment rates ever. Income levels are falling and large debt is building up. This troubles the EU's economy. They have had an economic crisis for five years and they are seeing divergence between their members Nations. In the south employment rates are higher by seven points. here are what some people are saying about this: "More Europeans are out of work now in the eurozone — almost 11.8 percent — than in the entire two-decade history of the common currency." "'After a few years of persistent crisis, most national welfare systems have lost much of their ability to protect household incomes against the effects of the crisis,'" They had a strong social structure, but with this economic crisis it is breaking apart.
    I hope the European Union can find someway to get of there situation and that employment rates start going up.

http://www.npr.org/blogs/thetwo-way/2013/01/08/168881519/european-union-reports-highest-unemployment-rates-ever-for-eurozone
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2 comments:

  1. UnknownJanuary 13, 2013 at 11:51 AM

    We just learned about the pros and cons of joining the EU and that some countries fear joining the Eu for reasons like unemployment.

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  2. UnknownJanuary 13, 2013 at 8:53 PM

    This is terrible. I feel so bad for all of the people that don't have jobs anymore. They probably won't be able to provide for their families. At first, I couldn't understand why countries wouldn't want to be part of the European Union, but now I understand why. If one part of the Union goes into debt, then so does the rest of it. I hope that the debt problem is solved soon, and I hope that they will find another way to raise money other than taxes because then all you will end up with is angry people.

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