Euro-area unemployment rose to a record and inflation quickened more than economists forecast as rising energy costs threaten to deepen the economic slump.As Marco Rubio said at the Republican Convention, this is what people come to America to get away from...
The jobless rate in the economy of the 17 nations using the euro was 11.3 percent in July, the same as in June after that month’s figure was revised higher, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. Inflation accelerated to 2.6 percent in August from 2.4 percent in the prior month, an initial estimate showed in a separate report. That’s faster than the 2.5 percent median forecast of 31 economists in a Bloomberg survey. …
The European Central Bank, which will publish its latest economic projections next week, said in June that the euro-area economy may shrink 0.1 percent this year, with inflation averaging 2.4 percent. The ECB aims to keep annual gains in consumer prices just below zero.
Friday, August 31, 2012
Eurocrash
Remember, in the Old World this is considered normal:
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