Transcript Unemployment - Albert

Unemployment
Unemployment
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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 .
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Unemployment
News
Euro zone unemployment reaches all-time high.
The euro zone'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 Euro state 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 elections on June 17 , where jobs are a key issue together with
the fundamental question of whether the country wants to stay in the currency
zone.
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Unemployment
The euro zone 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.
© 2016 albert-learning.com
Unemployment
© 2016 albert-learning.com
Unemployment
© 2016 albert-learning.com
Unemployment
President of France Francois Hollande
called for measures to boost growth
and employment to offset the impact of
stringent austerity policies.
© 2016 albert-learning.com