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Things still not looking good for eurozone

carzony · 2013-04-03 02:05:02

19.07 Million people unemployed :eek: and last month it rose by 33,000 people. Will it ever improve :mad: http://www.rte.ie/news/2013/0402/379397-eurozone-unemployment/

Comments

#52 12-04-2013 10:20pm

KyussBishop

Closed Accounts Posts: 5,797 ✭✭✭

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Posts: 5687

Cody Pomeray wrote: »

Because demand is already weak due to falling real wages and you risk not achieving anything by hitting wages further.

It would be more sensible to stimulate the troubled economies using an agency like the EIB which can maximise a stimulus as a multiple of whatever capital base is applied. It also encourages private sector banks to participate in the stimulus, which probably wouldn't happen under a fiscally stimulated expansion.

I think the first sentence is assuming stimulus on the back of increased taxes; that's not what I advocate, stimulus doesn't have to rely purely on taxes.

The EIB however, is indeed precisely what I advocate; if you combine that with Eurobonds, you would have an extremely powerful stimulus mechanism for restoring the entire EU.

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