There has been quite a bit of talk of late that the Eurozone economy has seen the worst. We’ll see, but here are a couple of glimpses of how things currently stand in the currency union’s periphery.
A new release from Greece’s Statistical Authority:
[The] unemployment rate in May 2013 was 27.6% compared to 23.8% in May 2012 and 27.0% in April 2013…..
The percentage of those aged between 15-24 (and not in full-time education) who were unemployed rose from 55.1 percent in May 2012 to 64.9 percent in May 2013. 64.9 percent…
The lucky cohort between the ages of 25-34 got off much more lightly. A mere 37.7% of them were unemployed in May (up from 32.7 percent in May 2012).
Meanwhile, Reuters reports:
Non-performing loans at Italian lenders rose by 22 percent in June from a year earlier, Bank of Italy data showed on Thursday. The pace of growth was slightly lower than a 22.4 percent increase recorded in May – which was the highest since records began in 1998. Bank lending continued to contract, with loans to non-financial businesses falling by 4.1 percent….






Comments