• Unemployment figures across the Eurozone reached record levels yesterday (31.02.2012).
The jobless rate in the 17 countries that use the Euro was up to 10.4% in December. 16.5 million people were out of work in the eurozone in December, up 751,000 on the year before. The highest rate is in Spain at 22.9%, while the lowest is in Austria at 4.1%.
On Monday we saw the attempt to ‘Germanise’ the entire eurozone by forcing all countries into tighter fiscal controls set by Angela Merkel but controlled in Brussels.
The unemployment figures prove conclusively that the austerity and savage cuts being piled onto countries that have no economic similarity to Germany are a recipe for disaster.
It is only pride that is keeping the Euro going. Unfortunately this conceit is doing nothing to improve people’s lives. In fact it is making them worse.
Much better would be to allow countries the freedom to choose their own paths to economic recovery, and in Greece’s case leave the Euro altogether. The Eurozone countries are not soviets of Germany, any further attempts to make them such will push these dreadful figures higher still.