© 2011 wheresjenny.com unemployment. © 2011 wheresjenny.com unemployment news euro zone...

© 2011 wheresjenny.com

UnemploymentUnemployment


Unemployment

NEWSEuro zone unemployment reaches all-time high.

The eurozone’s stagnant economy left 17.4 million people out of a population of some 330 million without a job, with rates continuing to climb in struggling Spain, Portugal and Greece. The EU’s Eurostat office said 110,000 unemployed were added in April alone.

Austerity has been the main prescription across Europe for dealing with a debt crisis that’s afflicted the continent for nearly three years and has raised the specter of the breakup of the single currency. Three countries – Greece, Ireland and Portugal – have already required bailouts because of unsustainable levels of debt

Investors are concerned that Spain, which is the eurozone’s fourth-largest economy and is currently struggling to contain a banking crisis in the middle of a recession, may soon be joining them in seeking international assistance.

Athens is facing June 17 elections where jobs are a key issue together with the fundamental question of whether the country wants to stay in the currency zone.


Unemployment

VocabularyAusterity: In economics, austerity refers to a policy of deficit-cutting by lowering spending often via a reduction in the amount of benefits and public services provided.

Bailouts: A situation in which a business, individual or government offers money to a failing business in order to prevent the consequences that arise from a business's downfall. Bailouts can take the form of loans, bonds, stocks or cash. They may or may not require reimbursement.

A specter of break up: Here it means a disturbing situation causing to destroy the single currency.

Unsustainable: Not able to continue at the same rate or level.

Banking Crisis: A series of unexpected cash withdrawals caused by a sudden decline in depositor confidence or fear that the bank will be closed .


Unemployment

English French

Austerity austérité

Bailouts renflouements

A specter of break up

Un spectre de briser

Unsustainable non durable

Banking Crisis crise bancaire


Unemployment

The eurozone is an economic and monetary union (EMU) of 17 European Union (EU) member states that have adopted the euro (€) as their common currency and sole legal tender.

Monetary policy of the zone is the responsibility of the European Central Bank (ECB) which is governed by a president and a board of the heads of national central banks.


Unemploymnet


Unemployment


Unemployment

President of France Francois Hollande called for measures to boost growth and employment to offset the impact of stringent austerity policies.

© 2011 wheresjenny.com unemployment. © 2011 wheresjenny.com unemployment news euro zone...

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