Greek and Spanish under 30 years old are doomed to be a lost generation.
It is a generation that, in general statistical terms, is left with the only prospect of living off their parents until they can live off their children.
A stark economic divide has opened in Europe. The core of Europe is enjoying record low unemployment, while peripheral Mediterranean countries suffer from some of the highest unemployment rates in recorded history.
European unemployment broken down by country:
But the scariest data, once again, is revealed in the table of European youth unemployment. Here we see that both Spain and Greece now share the same youth unemployment figure above 50 %, while Italy has recently reversed its improving trend, and is now at 40 % and rising.
For anyone asking why Europe’s politicians are terrified at the anti “austerity” wave that is just over the horizon, the table above should have all the answers.
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