Word: euros
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...Luxembourg Record Job Losses in the E.U. Unemployment in the 16 countries that use the euro as their currency reached a 10-year high of 9.5% in July, though the pace of increase has slackened since earlier this year. Spain has been battered by the crunch--nearly 1 in 5 adults, and 38.4% of citizens under the age of 25, are jobless--while the Netherlands has weathered the downturn nicely, with just 3.4% of its residents out of work. Analysts say the figures underscore the growing gap between more economically stable euro-using countries, such as France and Germany...
...practicing Muslim, out of his home debut. "He was clearly struggling," Mourinho said of the 25-year-old Ghanaian player during the postgame press conference. "It's the month of Ramadan, and that's what affected his performance, which is why I took him out." (See pictures from Euro...
...exactly Christmas come early, but France and Germany did get a nice surprise on Thursday with the news that they have lifted themselves out of recession with Q2 growth of 0.3% each. Meanwhile, the 16 intertwined economies of the euro zone have shrunk less than expected during the second quarter of 2009. But, experts warn, don't go saying that Europe's worst economic crisis in half a century is over just...
...news elsewhere across the 16 nations who use the euro was mixed, with overall activity declining by 0.1%. But even that was better than the 0.5% drop economists had expected, with Greece and Portugal joining France and Germany by posting gains of 0.3% each. Meanwhile, Italy's economy shrank by 0.5% and the Netherlands' dropped 0.9%, while Austria and Belgium both contracted by 0.4%. Previously, the U.K. - which does not belong to the euro zone - reported that its expected 0.5% second-quarter decline had in fact been...
...Even if the big euro-zone motors of France and Germany manage to continue growing along with smaller economies like Greece and Portugal, Moec warns that broader European recovery will be a sluggish affair. Countries like the U.K., Spain, and Ireland - which each suffer from some combination of excessive household debt and structural over-reliance on real estate and financial industries - risk taking far longer to remedy their economic ailments, which would slow a regional rebound. Ditto Italy, whose consistent under-performance is rooted in competitive weaknesses that couldn't be cured even during good times. (Read: "In Hard Times...