Wednesday, January 25, 2017

EU weaker

(cont'd from yesterday's post)

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

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