It seems the situation in Spain is even worse than here.
Spanish Youth Unemployment Exceeds 40 Percent (Update1) - Bloomberg.comUnemployment among young people in Spain rose above 40 percent in September as Europe’s former motor of job creation remained mired in recession.
Unemployment among people under the age of 25 climbed to 41.7 percent from a revised 40.9 percent in August, the European Union’s statistics office said today in an e-mailed statement
"The perfect liberty they seek is the liberty of making slaves of other people." -- Abraham Lincoln
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Not right and not sustainable. There will be fighting soon. Back to the 30s, not the 80s.
Don´t read too much into it.
Their budget deficit is not 50%
They have infrastructure.
They have industry
They have tourism
They have agriculture
They have a fishing industry
They have Natural Resources
They have a functioning free health service
They jail corrupt politicians.
The dole "paro" entitlement in Spain is earned, so people generally work a bit, go on the "paro" a bit and then back to work. It´s a way of life, that´s why they always appear to have high unemployment.
20% of overall workforce, and 40% of younger workforce is not pretty, but they will get out of it faster than Ireland.
We need to team up with Spain to get the ECB to devalue the Euro. Otherwise we may have 15% unemployment soon.
Are you sure they want anything to do with Ireland that pi$$ed away it´s EuroMillions.Originally Posted by Eamonn76
Spain has an economy. Ireland is a toxic basketcase. Completely different circumstances.
Spain has produced stimulus packages, and there´s no need for NAMA here apart from a few banks merging so far.
Irelands unemployment will be at 20% shortly too, devaluation of the € or not.
Not going to happen, the US and the UK have printed so much money and germany oooops I mean the ECB is terrified of hyper inflation ...... but vote yes for jobs eh
Alternatively, we could actually do something about the chronic uncompetitiveness that successive Fianna Fail governments embedded into our economy - so that in future we can cope with an unfavourable exchange rate, while a favourable rate results in a trading advantage for us vis-a-vis domestic competitors in our main markets.
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
Too little time for that. We need Euro devaluation to give us the breathing space to lower our costs. At the moment they are being lowered through rising mass unemployment.
On the contrary, costs in areas controlled by government remain prohibitively high, and what few improvements are coming are being dragged kicking and screaming out of the sectors in question. Devaluation wouldn't provide breathing space to achieve proper reform, but would instead be seized on as an excuse not to bother.
"Elite - a small superior group; esp one that has a power out of proportion to its size." (Oxford English Dictionary)
The majority cannot therefore be the elite.
They have a useless government.
"The perfect liberty they seek is the liberty of making slaves of other people." -- Abraham Lincoln
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