fighter on 02 May 2010
| kowenicki said: Unemployment in Spain is expected to reach 25% plus by year end... Unreal. But hey... the Euro and EU common fiscal policy works.... doesn't it? My arse!! |
It works if you respect the common sense rules the way Germany did. Also, it was when adapting itself to the standards of the euro-zone that the unemployment rate dropped to 8%. It was already at 20% beginning of the 90's.
The european countries that got really hurt by the crisis are the stupid ones. Their policy was growth through consumption (debt) instead of production. That only works on a short term if the import-export balance is favourable, but in the end it reduces any economy's efficiency
