According to the report unemployment across countries that use the euro edged higher in February to 10.8%. The
slowdown is creating a tough environment for job seekers. Italy saw
unemployment hit 9.3% in February, the highest level since the country
started collecting monthly figures in 2004.
Finance ministers will hope that an agreement to increase the size of
the euro zone’s rescue fund will help bolster sentiment. According to
Howard Archer, chief European economist at IHS international Insight it
looks odds-on that euro zone GDP contracted again in the first quarter
of 2012, thus moving into depression.
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