How the world sees Greece
Why I am bullish on Greece Credit Writedowns I have been posting for a while now that I think Greece provides the greatest upside potential. Greece's sovereign bonds outperforming was one of my ten surprises for 2013 three months ago. And with bond yields now falling below 10%, Morgan Stanley is ... |
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 Us Magazine | Cover Story: Kim Kardashian Flaunts Pregnant Bikini Body on Family Vacation in ... Us Magazine After suffering through months of fat-shaming and criticism over her ever-evolving pregnant body, Kim Kardashian decided not just to embrace her curves but also to show them off in a bikini on her recent vacation to Greece -- and Us Weekly has the photos! |
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 Spectator.co.uk | Why Greece isn't recovering: the view from a cruise ship Spectator.co.uk 'Greece expects record tourist year as strikes recede,' was indeed the headline on a report of a speech by the president of the Athens-Attica Hotels Association. But it sat alongside news of a stoppage by the Pan–Hellenic Seamen's Federation to ... |
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UN agency warns of unrest with global youth unemployment forecast to reach 12.8% by 2018 after falling since 2009
Global youth unemployment has risen to close to its crisis peak and will climb higher as the economic recovery falters, a report by a UN agency has warned.
The International Labour Office said the youth unemployment rate had been falling since hitting 12.7% in 2009, but this year had climbed again to stand at 12.6%. The rate is forecast to reach 12.8% by 2018.
The ILO paints a grim picture for school leavers and graduates across large parts of the world, saying young people continue to be almost three times more likely than adults to be unemployed.
"The weakening of the global recovery in 2012 and 2013 has further aggravated the youth jobs crisis and the queues for available jobs have become longer and longer for some unfortunate jobseekers. So long, in fact, that many youth are giving up on the job search," says the report, Global Employment Trends for Youth 2013.
The report stresses that for those who do find work, the outcome is often far from ideal – damaging the prospects of both the individuals and the wider economy.
Increasing numbers of young people are having to settle for part-time work or for temporary jobs. Informal employment among young people remains pervasive and skills mismatch on youth labour markets has become a "persistent and growing trend" with both overeducation and over-skilling as well as undereducation and under-skilling.
"Such a mismatch makes solutions to the youth employment crisis more difficult to find and more time consuming to implement. Moreover, to the extent that young people in employment are actually overqualified for the job they are doing, society is losing their valuable skills and forfeiting stronger productivity growth that would have been achieved had these young people been employed at their appropriate level of qualification," the report says.
As it warns of the social unrest risked by large swaths of the young population out of work, the ILO underlines a rise in the number of young people neither in employment nor in education or training, the Neet group.
The Neet rate in OECD countries increased by 2.1 percentage points to reach 15.8% between 2008 and 2010. "In other words, around one in six young persons are without a job and not in education or training. In the European countries these trends are more pronounced both before and after the peak of the economic crisis," the report says.
The report chimes with recent data from the eurozone that show young people continuing to be worst affected by the unemployment crisis. The jobless rate in the currency bloc hit a record 12.1% in March and youth unemployment was almost double that at 24%. In Greece and Spain more than one in two young people are unemployed.
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Greek Life seniors reflect on experiences at UA Arizona Daily Wildcat As graduating seniors bid farewell to campus, sorority and fraternity members reflect on their experiences in Greek Life. The UA's warm weather, beautiful campus and energetic and active Greek community were all deciding factors for Blythe Tarbox, ... |
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BRUSSELS (Reuters) - The bailout of Cyprus shows how urgently the euro zone needs to establish a banking union to break the negative feedback loop between weak banks and governments, European Central Bank Executive Board member Joerg Asmussen said on Wednesday. Cyprus this year became the fourth euro zone country that needed to be bailed out by international lenders, and unlike any other aid deal it controversially forced depositors to foot the cost of recapitalizing banks exposed to debt-crippled Greece. ...
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