Brussels and the core economies

However, Brussels and the core economies failed to provide adequate fiscal adjustment, which made mass unemployment a lot worse and continues to penalize confidence, demand and investment. Today, unemployment has decreased to 10.3% in the EZ (and to 8.9% in the EU, respectively). But underemployment remains prohibitively high and youth unemployment amounts to 23% in the EZ and is far higher in crisis countries, such as Greece (48%), Spain (45%) and Italy (39%).

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