"The tightening credit conditions in the Eurozone are taking their toll on the consumer. The unemployment rate is rising and is likely to keep rising further, given the messy labor laws in many Eurozone nations (it takes much longer to lay off employees than it does in the US for example)..."
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| Unemployment rate (source: Capital Economics) at http://pragcap.com/eurozone-consumer-enters-double-dip-territory |
