Those who forecast a eurozone recovery, my question is HOW? With labor working less hours, per hour wages cut, and unemployment at a ten year high, where is the consumption going to come from? Right now, for example, spain has over 20% unemployment.
People, let me point out that the downturn in the US economy turned into a global economic recession. There are no countries awash in cash that could pull europe out of the mud because all are hit hard by nothing less than financial armageddon.
No comments:
Post a Comment