http://www.youtube.com/watch?v=aFGYaoIPYBI&feature=player_profilepage
Two trade union leaders braved wind and rain atop a 60-meter high tower at Alcoa’s smelter in Sardinia in a protest aimed at slowing down the U.S. aluminum producer’s closure of the troubled plant. http://www.reuters.com/article/2012/09/13/us-alcoa-italy-idUSBRE88C0XM20120913
Antonio Fazio, the disgraced former governor of the Bank of Italy, warned half-jokingly in 1998 that the euro would not be paradise but a “purgatory” that would demand years of pain and sacrifice. Currently appealing a conviction for improperly trying to influence a bank takeover in 2005, Fazio is not much listened to these days, … Continue reading
The eurozone economy is forecast to shrink this year as its debt crisis continues to bite. The European Commission’s spring forecast confirmed its prediction of a 0.3% contraction in 2012 in the economies of the 17 countries that use the euro. It predicted growth of 1.0% for the eurozone in 2013. European Commissioner for Economic … Continue reading
Italy’s unemployment rate increased for the seventh consecutive month in March to its highest level in at least nine years, data released by the statistical office ISTAT revealed Wednesday. The seasonally adjusted jobless rate rose to 9.8 percent from February’s 9.6 percent, which was upwardly revised from the 9.3 percent reported earlier. The latest jobless … Continue reading
doesntevenmakesense.com has gathered the following statistics about the European economic crisis that are ‘almost too crazy to believe….’ Greece #1 The Greek economy shrank by 6 percent during 2011, and it has been shrinking for five years in a row. #2 The average unemployment rate in Greece in 2010 was 12.5 percent. During 2011, the average unemployment rate was 17.3 … Continue reading
After a quiet-ish few months, Euro panic came back in a big way on Tuesday. Spanish stocks hit a three-year low. Spain’s bond yields crept back up above 6 percent. It wasn’t any better in Italy, whose stocks fell 5 percent. That’s a lot of bad news on a day with seemingly no new news. … Continue reading
Despite a large share of Sweden’s senior work force en route for retirement in the next few years, Swedish companies are among the worst in the world at recruiting and keeping people over fifty in employment. According to a study carried out by recruitment agency Manpower, only eight percent of Swedish employers have a strategy … Continue reading
“European unemployment increased to the highest in more than 14 years in February as companies from Spain to Italy eliminated jobs to weather the region’s crisis” writes Bloomberg. The euro area (EA17) seasonally-adjusted unemployment rate was 10.8% in February 2012, compared with 10.7% in January. It was 10.0% in February 2011. The EU27 unemployment rate was 10.2% in February 2012, compared with 10.1% in January. It … Continue reading
Italy’s central bank chief on Saturday predicted that the eurozone’s third-largest economy will see a return to growth next year, but he confirmed forecasts that 2012 will be a “year of recession.” Bank of Italy Governor Ignazio Visco also described Italian banks as being sound in terms of having adequate capital, but cautioned that the … Continue reading