The NYT had an article on French President Francois Hollande's efforts to lower the unemployment rate. The article neglected to mention the role of the policy of the European Central Bank and European Union in raising unemployment in France.
The EU/ECB have forced the countries of southern Europe to have large cuts in government spending and tax increases. This has pushed the countries into a severe recession, thereby sharply reducing demand for imports from countries like France.
This...
Published on August 08, 2013 02:50