RSS Feed
August 2nd, 2012 
FAKE NEWS for the Zionist agenda “Depending on which particular stratum of young people you take, it’s anywhere up to a third of young people who are unemployed or not looking for a job. That in a sense is even worse than the fact that people — employed people, middle-aged people — have had to leave their jobs now,” said James Walston, professor at the American University of Rome, in a Tuesday interview with Press TV.
Newly-released figures show that the unemployment rate in recession-bound Italy has hit a new record high of 10.8 percent in June, the highest in almost 13 years.
The rate, up from 10.6 percent in May, was released by Italy’s National Institute for Statistics (Istat) on Tuesday.
The figure is reportedly the highest since the third quarter of 1999 as the EU member state continues to struggle through a persisting recession.
“These figures today are in a sense showing that Italy is catching up. The unemployment figures are catching up with the general downturn, which is much worse than those overall figures, and we’ve had these now for a couple of years. They are immense and very high figures for youth unemployment,” Walston explained.
The analyst further argued that the growth rate is more important than debt rate adding that, “Italy’s growth rate is terrible”.
“Since the GDP’s not growing, the debt is growing and the cost of servicing that debt is growing. So it has got to deal with that. There are growth measures being put in place. A lot of public properties and public resources will be sold off, so that is one way of getting out of it,” he concluded.
TNP/JR
Related posts:
Views: 0
Posted in 
Tags: 
