Qualified advisers answering your
Financial Questions
call 0800 092 1245

Euro under pressure as unemployment rises

The Euro is today under pressure after news that unemployment in those nations who have adopted the currency rose to nearly 15.9 million. This is the equivalent of 10.1% of the population of the 16 nations involved although the likes of Spain, Ireland and Slovakia have by far and away the highest unemployment rates in the euro zone. The Spanish rate is nearly 20%!

As a consequence of the growing unemployment difficulties in the euro zone the currency has fallen to a four year low against the dollar. Despite its earlier strength against the UK pound it has also fallen to a one year low against this currency. All in all it is a very difficult period for the euro zone and many European Union members are struggling to survive. There's a feeling that the unease within the EU will increase in the short to medium term and we could literally just be touching the tip of the iceberg.

While budget cuts continue to be announced across the euro zone these will take some time to impact upon local economies and problems will continue for the foreseeable future. In relative terms the UK economy is looking fairly strong against the euro zone which is something nobody forecast 12 months ago!

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details