© 2011 wheresjenny.com Unemployment. © 2011 wheresjenny.com Unemployment NEWS Euro zone unemployment reaches all-time high.  The eurozone’s stagnant.

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Presentation transcript:

© 2011 wheresjenny.com Unemployment

© 2011 wheresjenny.com Unemployment NEWS Euro zone unemployment reaches all-time high.  The eurozone’s stagnant economy left 17.4 million people out of a population of some 330 million without a job, with rates continuing to climb in struggling Spain, Portugal and Greece. The EU’s Eurostat office said 110,000 unemployed were added in April alone.  Austerity has been the main prescription across Europe for dealing with a debt crisis that’s afflicted the continent for nearly three years and has raised the specter of the breakup of the single currency. Three countries – Greece, Ireland and Portugal – have already required bailouts because of unsustainable levels of debt  Investors are concerned that Spain, which is the eurozone’s fourth-largest economy and is currently struggling to contain a banking crisis in the middle of a recession, may soon be joining them in seeking international assistance.  Athens is facing June 17 elections where jobs are a key issue together with the fundamental question of whether the country wants to stay in the currency zone.

© 2011 wheresjenny.com Unemployment Vocabulary Austerity: In economics, austerity refers to a policy of deficit-cutting by lowering spending often via a reduction in the amount of benefits and public services provided. Bailouts: A situation in which a business, individual or government offers money to a failing business in order to prevent the consequences that arise from a business's downfall. Bailouts can take the form of loans, bonds, stocks or cash. They may or may not require reimbursement. A specter of break up: Here it means a disturbing situation causing to destroy the single currency. Unsustainable: Not able to continue at the same rate or level. Banking Crisis: A series of unexpected cash withdrawals caused by a sudden decline in depositor confidence or fear that the bank will be closed.

© 2011 wheresjenny.com Unemployment English French Austerityaustérité Bailouts renflouements A specter of break up Un spectre de briser Unsustainable non durable Banking Crisis crise bancaire

© 2011 wheresjenny.com Unemployment The eurozone is an economic and monetary union (EMU) of 17 European Union (EU) member states that have adopted the euro (€) as their common currency and sole legal tender. Monetary policy of the zone is the responsibility of the European Central Bank (ECB) which is governed by a president and a board of the heads of national central banks.

© 2011 wheresjenny.com Unemploymnet

© 2011 wheresjenny.com Unemployment

© 2011 wheresjenny.com Unemployment President of France Francois Hollande called for measures to boost growth and employment to offset the impact of stringent austerity policies.