"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Saturday, June 2, 2012

Eurozone unemployment at record high

Eurozone unemployment at record high
CNNMoney
NEW YORK (CNNMoney) -- The 17-nation eurozone's unemployment rate reached the highest level since the creation of the common currency 13 years ago, climbing to 11% in April as employers slashed 110000 jobs. The unemployment rate in the broader ...

Euro zone unemployment hits record high, seen rising
Reuters
By Robin Emmott | BRUSSELS (Reuters) - Euro zone unemployment has hit a record high, and job losses are likely to keep climbing as the bloc's devastating debt crisis eats away at businesses' ability to hire workers while indebted governments continue ...

Eurozone mired in record unemployment
CBS News
The eurozone's stagnant economy left 17.4 million people out of an active population of around 158 million people without a job. Unemployment rates are also continuing to climb in struggling Spain, Portugal, and Greece. The EU's Eurostat office said ...

CBS News

Instant View: Euro zone joblessness hits highest ever level in March, April
Reuters
BRUSSELS (Reuters) - Joblessness in the euro zone rose to 11 percent in March and April, the highest level since records began in 1995, the European Union's statistics office Eurostat said on Friday. ECONOMISTS' COMMENTS MARTIN VAN VLIET, ...

Euro Zone Unemployment Rises to a Record 11%
New York Times
PARIS — Ireland on Friday appeared headed toward adoption of the European Union's fiscal compact, but stocks fell and the dollar rose by midday in Europe after data showed unemployment in the euro zone rising to a record.

ROUNDUP: Analyst Predictions For The ECB Meeting
Wall Street Journal
By Laura Clarke Of DOW JONES NEWSWIRES LONDON (Dow Jones)--As the European Central Bank mulls the worsening economic landscape and heightened euro-zone fears, observers have their ears to the ground to determine what the central bank might say when it ...

Eurozone Unemployment Stuck at Record High
Fox Business
Euro zone unemployment has hit a record high, and job losses are likely to keep climbing as the bloc's devastating debt crisis eats away at businesses' ability to hire workers while indebted governments continue to cut staff. Around 17.4 million people ...

GLOBAL MARKETS WEEKAHEAD-Central Banks to hold fire ... for now.
Reuters
By Richard Hubbard LONDON, May 31 (Reuters) - The intensifying euro zone crisis and uncertain global growth outlook have raised hopes for a policy response from major central banks but, while it could be a close call, they are likely to resist pressure ...

Euro-Zone Data Deepen Gloom
Wall Street Journal
By ALEX BRITTAIN AND JASON DOUGLAS A further decline in euro-zone manufacturing Friday and a climb in the number of jobless people to a fresh record suggested that the region's economy will continue to flounder in the second quarter as its debt crisis ...

ECB chief calls euro zone 'unsustainable,' criticizes Spanish bank response
Washington Post
US and European officials, who just weeks ago seemed to be getting a handle on the euro zone's financial crisis, are now scrambling to prevent a new round of problems from pulling down some of Europe's largest economies. European Central Bank President ...

Negative German Yields Highlight Euro-Zone Woes
Wall Street Journal
... on ultra-safe government bonds from US Treasurys to German Bunds plunged to record lows Friday, turning two-year German yields negative, as weak economic data exacerbated mounting concerns over the fate and composition of the euro zone.

Irish "yes" to give euro zone scant respite
Reuters
By Padraic Halpin and Harry Papachristou | DUBLIN/ATHENS (Reuters) - Ireland was poised to announce a "yes" vote to a European budget discipline treaty on Friday, but the referendum result brings little respite to a euro zone tormented by doubts over ...

UK Recession, Euro Crisis Weigh Heavily on UK Economy
Wall Street Journal (blog)
The data show a collapse in orders and output as the ongoing euro zone debt crisis weighed heavily on sentiment and spending plans, while a sharp decline in domestic business exacerbated that weakness. “It suggests that both the slowdown in global ...

Euro-Area Unemployment Reaches Record 11%
Bloomberg
The jobless rate in the 17-nation euro zone was at 11 percent in April and March, the European Union's statistics office in Luxembourg said today. That's the highest since the data series started in 1995. The March figure was revised higher to 11 ...

Eurozone Manufacturing Downturn Accelerates
Fox Business
The euro zone's manufacturing sector contracted at its steepest pace in nearly three years last month as the debt crisis hammered confidence and new orders continued to dry up, a business survey showed on Friday. A downturn that began in the region's ...

Eurozone needs overhaul, ECB chief warns leaders
Pittsburgh Post Gazette
The blunt diagnosis from the ECB chief came as the eurozone enters another tumultuous period of financial and political instability. Investors are worried that recession-hit Spain will be unable to prop up its banks burdened by toxic bad loans -- and ...

Greek Euro Exit Risks Uncontrollable Contagion, SocGen Says
Bloomberg
A Greek exit from the euro risks sparking uncontrollable contagion that may exhaust official funding sources, according to Societe Generale SA analysts. Greece leaving the euro may lead markets to question the future of the currency shared by 17 ...

Eurozone unemployment at record 11%
AFP
By Laurent Thomet (AFP) – 4 hours ago BRUSSELS — The eurozone debt crisis has hit workers hard, with grim data showing Friday a manufacturing freefall and unemployment at a record 11 percent, piling pressure on EU leaders to restore growth.

AFP

Euro-Zone Manufacturing Activity Falls Further
Wall Street Journal
By ALEX BRITTAIN LONDON—The decline in euro-zone manufacturing worsened further in May, suggesting that the region's economy will continue to flounder in the second quarter as its debt crisis deepens. The figures for France and Spain were at three ...

ECB, EU officials warn euro's survival at risk
Reuters
EU paymaster Germany, reluctant to risk more of its own taxpayers' money in support of euro zonepartners, has so far rejected any such joint deposit guarantee. Chancellor Angela Merkel refrained from comment on calls for a banking union but said ...

Merkel Should Solve the Euro Crisis: Ex-Deputy Chancellor
CNBC.com
Joschka Fischer, former vice-chancellor of Germany blasted Chancellor Angela Merkel for not being prepared to solve the euro zone crisis, should the June 17th Greek elections produce a non-bailout vote. Two polls ahead of an official ban on publication...

CNBC.com

ECB president: Eurozone structure 'unsustainable'
Memphis Commercial Appeal
But the note of frustration and urgency in Draghi's voice made clear that he was aware of the problems in the eurozone that he said only the member nations' politicians could now solve. There have been many spikes in the eurozone's crisis fever in the ...

Eurozone set-up is unsustainable, says bank chief
Sydney Morning Herald
THE head of the European Central Bank hit out at the political paralysis gripping the region, as he warned that the eurozone's set-up was ''unsustainable''. Mario Draghi said the central bank could not ''fill the vacuum'' left by member states' lack of ...

Euro Zone April Jobless Total Highest On Record
NASDAQ
LONDON -- The number of people out of work in the euro zone rose in April to its highest level ever recorded in the history of the currency union, official statistics showed Friday. European Union statistics agency Eurostat said there were 17.4 million ...

Crude Prices Slide as China, Eurozone Worries Build
Fox Business
Oil fell below $100 a barrel on Friday for the first time since October 2011 as weak manufacturing data from China and the euro zone debt crisis raised concerns of a slowdown in demand for fuel. China's official Purchasing Managers' Index eased to 50.4 ...

Eurozone jobless rate hits record 11%
Financial Times
By Ralph Atkins in Frankfurt Eurozone unemployment has hit a fresh euro-era record, increasing the pressure on policymakers to launch economic growth-boosting measures. Joblessness in the 17-country region was 11 per cent in April – the highest since ...

Eurozone Jobless Rate Hits Record High
Voice of America
The European Union said Friday that more than 17 million people were out of work in the eurozone as government austerity measures continue to take their toll on new hiring. The EU revised its March jobless rate up a notch to 11 percent and said the ...

Voice of America

Eurozone Jobless Rate At Record High
RTT News
(RTTNews) - Eurozone unemployment reached a record high in April as companies reduced headcount to limit costs amid fears of recession. The jobless rate came in at 11 percent in April, the same rate as seen in March, Eurostat said Friday.

RTT News

EuroZone jobless rate hits new high « Hot Air
By Ed Morrissey
The jobless rate in the 17-nation euro zone reached 11 percent in March and April, the highest since the start of the data in 1995, Eurostat, the European statistical agency said in Luxembourg. The previous record had been 10.9 percent in ...
Hot Air » Top Picks

"Democracy versus the Eurozone" by Daniel Gros | Project Syndicate
By Daniel Gros
The EU is a voluntary quasi-federation of sovereign and democratic states in which elections matter and each country seeks to determine its own destiny, regardless of the wishes of its partners. But it should now be apparent to everyone that ...
Project Syndicate RSS-Feed

Eurozone Unemployment Comes In Right In Line With Expectations ...
By Simone Foxman
Eurozone unemployment stayed flat at 11.0 percent in May, coming in right in line with expectations. Last month's data was revised higher, however, from 10.9 percent to 11.0 percent. Yesterday, data showed that unemployment in Germany ...
Clusterstock

Eurozone unemployment at record 11% | The Raw Story
By Agence France-Presse
Eurozone unemployment stood at a record high of 11.0 percent for the second month running in April, with Spain the hardest hit at 24.3 percent, revised official figures showed Friday. More than 17.4 million people were jobless in the single ...
The Raw Story

ECB Head Draghi: Eurozone “Unsustainable” in Current Form | FDL ...
By David Dayen
The head of the European Central Bank Mario Draghi said today that the structure of the Eurozonecurrency union was “unsustainable.
Firedoglake

Euro-Zone Manufacturing PMI Declines To 45.1 In May | Benzinga
By Lisa Levin
Manufacturing activity in the euro-zone dropped in May, according to the Markit purchasing managers' index for the sector. The index declined to 45.1 in May, versus 45.9 in April. Follow Benzinga on Linked In Today to catch our best news on ...
Benzinga - Stock Market Quotes,...

Calafia Beach Pundit: Eurozone default losses are water under the ...
By Scott Grannis
Forget all the talk about PIIGS defaults and a possible Eurozone banking and/or currency crisis. The losses from lending to Greece, Portugal, Spain, etc., are water under the bridge. The real issue is that Eurozone economies have been doing ...
Calafia Beach Pundit

ekathimerini.com | Eurozone joblessness hits highest ever level in ...
Eurozone joblessness in March and April rose to the highest level since the EU began tracking unemployment data for the currency area, highlighting the devastating impact of the bloc's debt crisis. Around 17.4 million people were out of work ...
Latest News

UPDATE 1-Euro zone unemployment hits record high, seen rising - XE
Euro zone unemployment has hit a record high, and job losses are likely to keep climbing as the bloc's devastating debt crisis eats away at businesses' ability to hire workers while indebted governments continue to cut staff.
XE Forex News

The Euro-Crisis, Seyla Benhabib's Cosmopolitanism, and Arendt's ...
By bh
The problem in the Euro-zone is that countries without debt problems don't want to devalue the Euro and thus lower their purchasing power. Without the political sense of a common fate, Germans do not want to suffer for the sake of the Greeks.
Hannah Arendt Center for Politics...

Eurozone April unemployment 11% | ForexLive
By Pete Jackson
Unchanged from revised March reading Number of unemployed rose by 110000 from 133000 in March, with the total in April of 17.4m up almost 1.8m from a.
ForexLive

Greek Euro Exit Risks Uncontrollable Contagion, SocGen Says
By Lynsey
LATEST WEBSITE NEWS: Our magazine's first issue is out! Have you subscribed yet for all exclusive material not available on the website? ********** We need your financial support to keep this website running. Please give your donation ...
The Coming Crisis

Euro-Zone Data Deepen Gloom – Wall Street Journal | The Wall ...
By Newswires
Telegraph.co.uk Euro-Zone Data Deepen GloomWall Street Journal By ALEX BRITTAIN AND JASON DOUGLAS A further decline in euro-zone manufacturing Friday and a c...
The Wall Street Examiner

Obama: G-8 leaders put focus on eurozone crisis - Yahoo! News
From Yahoo! News: The United States and other members of the Group of Eight industrial nations agree that Europe's financial crisis must be addressed with a ...
news.yahoo.com/obama-g-8-leaders-put-focus-eurozone-crisis...

The Eurozone: Breakaway or breakup? | vox - Research-based ...
There was a time when Greek exit from the Eurozone seemed implausible – now the prospect is so openly discussed that it even has its own word: Grexit.
www.voxeu.org/index.php?q=node/8055

Rajan Menon: Greece and the Eurozone: Weakness Brings Power
These issues doubtlessly need to be addressed, but what's notable is the sea change in the conversation. Ideas that were once off the table are now being taken ...
www.huffingtonpost.com/.../greece-and-the-eurozone-t_b_15...

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