Europe remains a jobless swamp, despite the Spanish miracle – Telegraph Blogs

Two comments: note the emphasis on how bad things are in Finland and the Netherlands, and this:

Stripped bare, the strategy of the EMU elites is to bet/hope that the global economy is entering a fresh cycle of global expansion, and that nothing more is needed. The question is what will happen if we are instead nearing the end of a five-year growth cycle, with stock markets already looking frothy and overstretched. What if this is as good as it gets?

Indeed. I shouldn’t bet on getting the rest of the world getting Europe out of its crisis.


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