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Longer dole queues
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With an unemployment rate of 13% compared with 7% as the European average, and Spain having 3 million unemployed, the situation is serious. Spain's savings banks predict another 1 million may be unemployed to take the unemployment rate up to 18%. There are 5 million immigrants among the unemployed, as the immigrant population has risen eight fold in the last decade. The Zapatero government has a euros 33 billion public works programme that it hopes will lead to 25,000 new building projects by May to keep unemployment down. Unemployment benefits will run out for the first wave of jobless by December, 2009. The social safety net represented by the family support that is the backup during such times in Spain is weaker now, with many families having single parents.
The Euro at year 10.
11/04/2008
The assessment of the euro in its 10th year. The Euro has realized some of its promise but will be tested in this deep recession.
Grouped Articles
Zaragoza, Beneficiary of Spain’s Heady Years, Feels the Undertow
New York Times 11/04/2008
Wall Street Journal 11/04/2008
Euro Zone's Wish for a Weaker Common Currency May Come True
Wall Street Journal 12/26/2008
Euro Nears Parity on U.K. Pound
Wall Street Journal 12/27/2008
Economist 12/30/2008
Economist 12/30/2008
The European Union and the economic crisis of 2008-2009.
10/06/2008
How the economic crisis of 2008-2009 affects the European Union.
Grouped Articles
Europe Races to Shore Up Banks as Crisis Spreads
Wall Street Journal 10/06/2008
European Nations Move on Plans to Shore Up Banks
New York Times 10/14/2008
Zaragoza, Beneficiary of Spain’s Heady Years, Feels the Undertow
New York Times 11/04/2008
Unknown 11/18/2008
Auto Makers in Europe Seek Aid as Sales Slump
Wall Street Journal 11/18/2008
EU to Coordinate $164 Billion Stimulus
Wall Street Journal 11/20/2008
Unemployment in Europe, Japan and the USA. Stimulus measures in the U.S. and safety nets in Japan and Europe: 2008-2010
01/05/2007
How safety nets in Japan and Europe do what the stimulus helps to do in the USA. Coping with high unemployment.
Grouped Articles
New York Times 09/06/2011
Stimulus and the Depression: The Untold Story
Wall Street Journal 09/26/2011
Japan Is a Model Not a Cautionary Tale
New York Times 06/09/2013
The Next First (and Only) 100 Days
New York Times 12/10/2011
New York Times 10/10/2010
New York Times 10/30/2014
The euro currency area and the situation in Spain, Italy and Britain.
12/30/2008
How being in the euro currency is on balance a good thing for Italy, being outside good for Britain given its asymmetric shock, and being inside complicates things in Spain which had an outsize boom in construction.
Linked Articles
Economist 12/30/2008
Economist 12/30/2008
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