Salient to Investors:
Bloomberg Editors write:
- 59 percent of Greeks, 56 percent of Spaniards, and 38 percent of Italians and Portuguese ages 16-24 were unemployed in March 2013.
- It is already clear that Europe’s “New Deal for Europe,” is no “New Deal”. The scale is still too small as millions of new jobs are needed.
- Small or medium-size businesses in northern Italy pay 2.5 percent more for a loan than their competitors just across the border in Austria creating an unbeatable advantage for the Austrians – only a banking union will address this problem.
- Youth unemployment had been rising faster than unemployment as a whole for decades before the crisis. It will take more demand and faster growth to get youth unemployment as low as it should be – like reflate Germany’s economy to create demand for exports from the periphery, and form a true banking union.
- David Blanchflower and Andrew Oswald said Spain’s homeownership rate of 80 percent causes a lack of rental accommodation that forces young people to live with their parents rather than move to where the jobs are.
Read the full article at http://www.bloomberg.com/news/2013-05-28/europe-s-youth-can-t-work-without-growth.html
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