Chart of the day: European youth unemployment
Youth unemployment is at 50 per cent in two European nations.
Via ZeroHedge comes what they call "Europe's scariest chart". Youth unemployment is now over 50 per cent, and climbing, in both Spain and Greece, and is unacceptably high in Portugal as well.
Not that life is any easier in those countries for the older part of society:
An elderly man who took his life outside the Greek parliament in Athens , in apparent desperation over his debts, has highlighted the human cost of an economic crisis that has not only brought the country to the brink financially, but also seen suicides soar…
Police data show a 20% increase in suicide rates in the two years since the outbreak of Europe's debt crisis in Greece in late 2009, although the health ministry estimated the figure was almost double that in the first five months of 2011 compared to the first five months of 2010. Suicide hotlines have been deluged with appeals for help.
The Euro crisis is more than just an academic concern, and the human misery being caused ought not to be overlooked.