European Union considerations

Posted: November 6, 2013 in Uncategorized

On 5th November the European Union released some economic projections which highlight that, even if the media outlet focus on the European resurgence, the issues are still large and unresolved.

-The Eurozone will grow at 1.1% pace (1.2% was the forecast in may 2013)

-Unemployment is still at record high and actually rising in Italy, France, Finland and Netherlands

-France and Spain will not meet their 3% GDP targets

-Public Debt will reach 95.5% of GDP in 2014 (it was 79.9% in 2009)

-Credit will remain tight for at least 1 more year

– UK will hold a referendum in/out of Europe in 2017

– Poland is reconsidering its European tilt versus a re-emerging Russia

-Rising anti-establishment, anti European Parties

-Rising of political terrorism (specially in Greece with the killing of 2 Golden Dawn members, but also in Italy)

-Rising of nationalistic agendas within the EU members

So, notwithstanding the media, the financial crisis is more and more becoming a social-political crisis that it is still in its infancy.



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