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The unemployment increase threatens Europe

October 07, 2013

It seems that Europe will witness a warm autumn and a hard winter because French and Polish trade unions labor have called for demonstrations against their governments, similar activities have already occurred in Germany and Greece. The unemployment rate in the euro area is more than 12% with over 50% of young people in many countries.
It is a social problem that governments must put to an end as soon as possible, especially the commitments of Euro fiscal rules and demand in Brussels to carry out major reforms such as the liberalization of labor markets.
The budget deficit in France has increased to more than 4% of GDP, so the country is facing challenges to achieve the promised reforms. Greece, Spain, Portugal and Italy have lost their classification in excellent creditworthiness.




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