Youth unemployment in Greece has risen to a shocking 64.9% in May.
Levels of unemployment such as this are normally associated with third world countries in the midst of a civil war, or the equivalent. Yet Greece is, allegedly, a first world country and is meant to be an "equal" member of a powerful and prosperous economic block (ie the Eurozone).
The reality is that Greece is not treated as an equal, it should never have joined or been allowed to join the Eurozone and the prosperity within the Eurozone is not evenly spread but confined to the wealthy Northern economies.
As such it is clear that as an experiment the Eurozone is destined to fail, indeed the world will be a better place without it. However, with levels of unemployment such as this in Greece the real danger is that of a plague of dictatorships and civil unrest spreading country by country in the Southern members of the Eurozone.
In order to survive as a democracy and civilised society Greece needs to exit the Eurozone now, others such as Cyprus need also to consider their positions.
Blog Archive
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2013
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August
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- Greece Wants To Renegotiate Bailout Terms
- Banks Embroiled In Another Mis-selling Scandal
- Greece Needs Another Aid Programme
- Banks Play The Old Switcheroo
- Eurozone Out Of Recession?
- Pre Election House Price Bubble On Its Way
- Greece Imploding
- Greek Youth Unemployment Close to 65%
- UK Economy Heads Towards Escape Velocity
- UK Construction Jumps
- Lloyds Back In Profit
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August
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