Monday, December 17, 2012
The above shows the latest data on unemployment in the distressed Eurozone countries. Ireland seems to have at least stabilized, but not started to recover. Everywhere else still seems to be actively getting worse. Greece and Spain in particular are vying for who can dive into the abyss faster.
This has got to be the largest policy failure in the developed world since the second world war. While Europe is less prominent in the news presently, these countries cannot be considered safe or stable as long as their unemployment curves are doing this.