ECB intervenes to clean May’s and Schäuble’s mess

Last Thursday 8 June, on the day the Britons were punishing Theresa May for her mistakes and arrogance, the European Central Bank under Mario Draghi was preparing for a less favorable politico-economic environment and a much longer disinflationary period. Indirectly, Mario Draghi blamed the dying out inflation on the avowed neoliberals, of the kind of […]

Unemployment and exclusion brings EU cities to boiling point

Last Tuesday Eurostat, the EU statistical service release its latest estimates about the April unemployment rate and May inflation in Eurozone, which unfortunately didn’t diverge markedly from the gloomy predictions of analysts. This week however, the same source published a very interesting survey about the labor market situation in EU. It’s a special report about […]

Real EU unemployment rate at 10.2%+4.1%+4.7%: Eurostat Update

This newspaper has been closely following the evolution of real unemployment over the past few years, on the base of Eurostat statistics. It has proved that real unemployment is much higher than the official rates. In January 2014 the European Sting, using Eurostat data, found that, in the third quarter of 2013 real unemployment was […]

Conflicting statistics and bad banks haunt the Eurozone

Last week, Eurostat, the EU statistical service, released its flash estimate of the GDP of the first quarter of 2016, finding it, in both the Eurozone and the EU28, to be 0.5% bigger in comparison to the previous period. In the fourth quarter of 2015, GDP had also grown by 0.3% and 0.4% respectively. Does […]

Why do overwhelming proportions of EU’s youth feel excluded?

The Eurobarometer, the public opinion analysis tool of the European Commission, interviewed 10,294 Europeans aged between 16 and 30 in the 28 EU member states between 9 and 25 April 2016, and found that most of them feel economically and socially marginalized by the crisis. Of course, there are incredible differences among the member state countries, […]

Eurozone’s central bank leadership prepares for shoddier prospects

It has become commonplace to state that the European economy still doesn’t fare well after six years of recession or practical stagnation. For good reasons however in the past few days the horizon looked particularly darkened. Negative statistical evidence and meandering statements by key people are indicative of that. Inflation or rather disinflation statistics, persistently […]

No hard drivers in sight to remodel the stagnating affairs of the EU

It’s a tautological statement to say that the euro area is an economy which barely moves ahead, towards producing more jobs and incomes for the tens of millions of the unemployed and materially deprived. However, it seems that it’s worse than that. Mario Draghi, the President of the European Central Bank, said it plainly in […]

Unemployment and immigrants haunt the EU; who can offer relief?

On Tuesday 1st December, Eurostat the EU statistical service reminded us all that in the euro area the October unemployment rate still remained in the double digit region with 10.7%. Understandably, this is the official percentage of people without a job, while the real unemployment rate may be double that, as this newspaper has proved, […]

G20 LIVE: “Re-envisioning the economy to enable women to reach their full potential” live from Antalya Turkey

Gender inequality pervades G20 economies and beyond. Women carry out the vast majority of unpaid labor around the world and are vastly overrepresented in informal, insecure and vulnerable employment. They are also subject to occupational discrimination and lack access to social protection and pension systems. Women’s unemployment accounts for three quarters of the global job […]

The Commission sees ‘moderate recovery’ but prospects deteriorate

The European Commission released last week its “Autumn 2015 Economic Forecast”, advertising ‘moderate recovery’ for the European Union and the euro area. Understandably, the Commission wouldn’t dig deeper in the economy, to highlight the negative aspects of the present status and the subdued prospects for next year. For a number of important reasons the executive […]