We here in the U.S. have been less than happy with our economic growth of 12% since 2008, which is just an average of 1.5% per year (about 3% was normal for decades).
But Europe has even less economic growth. Since 2008 the economy of the European Union has grown overall only 4%, an average per year of 0.5%.
Because of that, unemployment in Europe is nearly 10% (about twice that of the U.S). And it's much worse for young people (image below).
"The currency can muddle through for some time to come," says a European economist. "But it cannot survive indefinitely unless ... fundamental problems are addressed."
photo: crossingthebaltic.com
No comments:
Post a Comment