The latest figures from Eurostat, the European Union’s statistics agency highlights how the Mediterranean states are dominated by the powerhouse of Germany and its Euro a devalued Deutschmark!
The Euro has caused an epidemic of political corruption in all the Mediterranean regions. Here in Spain, the Euro, with the encouragement of its sponsors has corrupted virtually every politician. Since its introduction, some 15 years ago many, many hundreds of Spanish politicians and bureaucrats have been pursued by the criminal justice system! With little or no consequences!! Only the Swiss bankers know the full extent of the corruption here in Spain.
Spain’s economic recovery will only begin after it reverts back to its own currency. The Euro as caused an economic collapse with the highest unemployment rates in the EU. Since 2007 people who have remained in employment have seen their wages devalued by as much as 50% in many industrial sectors, some workers have complained that their wages are as little as 2.50 euros per hour.
While unemployment fell in 2016 from 22.1% to 19.6% – it currently stands at 18.75% – it is still more than twice the EU average of 8.6%. And as with recent years, several of Spain’s regions are among the EU’s worst unemployment black spots: in fact, five of the 10 worst-affected areas in Europe are in Spain. Eurostat data show the jobless rate in Spain’s North African exclave of Melilla is 30.8% while in Andalusia it is 28.9% and in Extremadura, it is 27.5%.
Greece’s western Macedonia region tops the EU list with an unemployment rate of 31.3%. Three other areas in Greece and a French overseas territory complete the list of the 10 areas of the EU with the fewest job opportunities.
Germany accounts for well over 35% of Spain’s non-oil imports, even many of the park benches and wastepaper bins are made in Germany. Before the Euro, the Spanish paid for much of its imports with orange juice, fruit, and nuts, now they pay in Deutschmarks!
Wake up Spain! If you want to know how long the road is to recovery? Any rational economists would say 50 years or look at the Eurostat map above, and they would say, 10 km behind Greece! Where the Greek prime minister Alexis Tsipras and his government cannot make any economic decisions without phoning a bureaucrat in Berlin, Germany!!
Lower Bavaria in Germany has the European Union’s lowest unemployment rate: 2.1%
The Eurostat report shows that for most Germans, unemployment is not a problem: seven of Europe’s regions with the lowest level of unemployment are in Germany, with Lower Bavaria leading the way at 2.1%. This overwhelmingly rural area exemplifies the strength of German industry: car maker BMW is one of the biggest employers in the region through its factory at Dingolfing, which employs 17,500 people and produces 340,000 vehicles a year.