Eurozone youth unemployment reaches record high of 24.4% | Business | The Guardian

José Manuel Durão Barroso

José Manuel Durão Barroso (Photo credit: Wikipedia)

This is an important MUST READ article from the Guardian. Check it out!

via Eurozone youth unemployment reaches record high of 24.4% | Business | The Guardian.

The European Commission’s policies of excessive austerity are responsible for large swathes of youth unemployment. Now the European Commission is readying to pump billions of Euros into retraining Europe’s youth.

For me the critical question is:

How will the European Commission’s billions on retraining be effectively matched to potential demand, avoiding huge wastage in bureaucracy and corruption?

Any thoughts?

 

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UK banks and the productivity puzzle: it may not just be about limited lending – Simon Wren-Lewis -Mainly Macro

European flag outside the Commission

European flag outside the Commission (Photo credit: Wikipedia)

This is an excellent article by Oxford economist Simon-Wren Lewis, published in his Mainly Macro blog. This is a STRONGLY RECOMMENDED READ. Check it out!

mainly macro: UK banks and the productivity puzzle: it may not just be about limited lending.

I agree with many of Wren-Lewis’s observations here. Certainly small business are still struggling to obtain finance at pre-2008 levels. Also property developers are struggling to find finance for good quality proposals.

In my view, the UK banking sector is an oligopoly and not necessarily working in the UK\’s national interest; it’s still geared towards enormous bonuses that are likely to outlawed by the European Commission next year. I would like to see the big banks broken-up, with increased competition from foreign banks.

Perhaps, the European Commission will have the resolve to tackle the big banks where the UK Government failed?

Any thoughts?

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