Unemployment in 17 countries of Euro Zone is climbing
steadily over the years
Before the financial crisis of 2008 , it was 7.5 %
In April 2014 , it reached 12.2 % , with 19.38 million
unemployed ( out of a population of about 330 million )
By Dec 2014 , it is expected to reach 20 million
Country-wise figures are as follows :
---------------------------------------------
Country % age Unemployed
Youth % ( 16-25 Years )
-----------------------------------------------------------
Greece ................
27........................................... 62.5
Spain ..................
26.8....................................... 56.4
Portugal
................ 17.8 ...................................... 42.5
Italy
...................... 12
......................................... 40.5
Netherland .............. 6.5
......................................
10.6
Austria
................... 4.9
........................................ 8.0
Germany
............. 5.4
......................................... 7.5
-------------------------------------------------------------------------------------
What does this mean to India ?
* If their own economies
do not expand fast enough ( highly unlikely , in short term ) , to absorb their
own jobless citizens , would these countries try to aggressively " export
" their goods and services to developing countries like India ?
That might affect our own employment !
* Should India open up its market to these
countries ( FDI etc ) , in return for their agreeing to liberal / unrestricted, import of Indian
goods and services ?
Considering that NaMo is ,
* an OPTIMIST (
remember , " glass half full with water and half full with air " ? ),
* an astute
Gujju businessman ,
I am sure , he will find means to exploit this
situation to India's advantage !
* hemen parekh
( 29 June
2014 / Mumbai
)
----------------------------------------------------
----------------------------------------------------
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