Friday, May 31, 2013

Record Unemployment in the Eurozone

And if Berlin has changed course (see previous post), the reason is not far to seek: unemployment in the Eurozone has reached a record high of 12.2%. Frau Merkel herself cites high youth unemployment in the southern tier as a reason to fear losing an entire generation, whose attitude toward the EU is being shaped by the botched response to the crisis. Is it too late to salvage anything from the wreckage? Perhaps not, and a shift in political rhetoric from punitive recrimination to empathetic comprehension would be a good start.

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