Euro malaise heads to the core
Yesterday (December 26, 2012), the French Ministère du Travail, de l’Emploi et de la Santé (Ministry of Labour, Employment and Health) released the latest labour market data for November 2011 which showed that the number of people seeking jobs (demandeurs d’emploi) had risen sharply in the last month. The data shows that the Euro malaise is now penetrating the core large economies in the Eurozone as the impacts of fiscal austerity spreads. It is interesting that the continued fiscal support in the US which is only surviving because the politicians have created a temporary impasse is seeing unemployment falling whereas the trend is now in reverse in the Eurozone. The neo-liberal infested Euro bosses are proving to be much more adept at destroying their economies than their counterparts across the Atlantic.