Greek unemployment hits another record high in December and for the first time number of young people without a job outnumbers those in work
German industrial output bounced back in January on strong construction and manufacturing output, bolstering hopes it will miss recession
Irish PM says country will hold referendum on EU fiscal treaty
At this stage in the euro zone crisis, we probably don’t need to be reminded how uncompetitive the peripheral economies are. (Arguably, of course, they would not be economically peripheral if they were more competitive, but that is for tautologists to debate). The United Nations, in the form of UNCTAD, has just pinpointed another weakness, however — huge underperformance in foreign directed investing, or FDI.
The numbers it has just released only go as far as 2010, so the real crisis cauldron has yet to come. But they show that Greece and Italy have been punching way below their weight.