The Greek rate of unemployment keeps growing, Elstat reports. In July 2012, there were over 1.2 million unemployed in Greece, which is 25.1% of the entire population. For comparison, the rate of unemployment was around 17.8% in July 2011.
During the reporting month, over 23 000 Greeks lost their jobs. Since the beginning of 2012, 378 000 people have become unemployed. The biggest rate of unemployment is among the people under 24 – 54.2%.
Therefore, it is hard to understand what exactly Angela Merkel likes about the current economic situation in Greece. The economy is still in recession, the rate of unemployment is growing while the lenders urge the Greek authorities to take extra austerity steps if they want to be granted a delay in order to fight the continued crisis.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of EURUSD. In order to resume the recent downtrend, the price will have to break below 1,2827 and 1,2824. In order to reverse the trend, it is necessary to break and consolidate above 1,2890 and 1,3071.
