The Economy In Europe
The Unemployment Rate in Europe (great place to start right?) held steady at 10.1% last month, Germany has the lowest level in the Euro Zone while Spain has the highest (5.9 and 24.6 respectively.)
with such a huge spectrum of jobless numbers the European Central Bank announced early this week that it will keep interest rates at the current level until at least next year.
So what does this mean exactly? Well, it means that the European economy isn’t expected to improve a massive amount if at all by the end of the year. Greece is still teetering on the edge of default, Spain can’t keep its Banks open, Italy has had its borrowing limit razed numerous times during the year, and the interest rate on Irish debt cant get much higher. Long story short the battle of Austerity vs. Stimulus is still raging in Europe, France gave total government Control to the Socialist party so you can guess they want Stimulus. Greece went with a center right party so they seem to be favoring Austerity. It’s a touchy situation in Europe and I’ll try to bring you more news when I get it
The Euro Cup!
Now for some good news! The Euro Soccer Cup ended this past week in Ukraine as Spain became the first team in history to win two Euro Cup’s in a row. They defeated Italy by the final score of 4-0 in Olympic Stadium in Kiev Ukraine, it was a great event to see and a fantastic win for a country that needed some good news! Felicidades Espania!
The Yulia Tymoshenko Situation in Ukraine
During the Euro Cup many world leaders were absent from the festivity’s. Not just because they don’t enjoy a good game of football ether. Several world leaders including British Prime Minister David Cameron and German Chancellor Angela Merkel skipped the event to protest the imprisonment of former Ukrainian Prime Minister Yulia Tymoshenko. Tymoshenko (51) was convicted of misuse of power during her Premiership in late 2011 and is currently serving a seven year prison sentence in kharkov Ukraine. The conviction was a move that was condemned by the EU and the United States as well as Russia and numerous other nations.
President Victor Yanakovich insists that the trial was fair but, to borrow a page out of Anderson Cooper’s book, I’ll keep him honest and point out that the judge for this trial was relocated to the court the trial took place in two months before its start, and had only been a judge for one year. During the Trial Tymoshenko and her defense team were, on several occasions, made to leave the courtroom thus preventing the correction of false information.
Tymoshenko has eleged that she has been beaten in prison and independent doctors from Canada and Germany confirm this but, again, President Yanakovich insists that she is being treated fairly in prison. Yulia’s defense team has announced they are appealing her conviction and Monitors from the European Union are expected to attend the proceedings to see just how ‘fair’ they really are.
You can bet I will keep you up to date on this topic as well as the others above!