Published on September 8th, 2012 | by I Am Awake0
20 facts you may not know about the European Union
1. Manufacturing activity in both France and Germany has contracted for 10 months in a row.
2. The unemployment rate in the eurozone has now risen to 11.8 percent – a brand new all-time high.
3. In November, Italy experienced the sharpest decline in retail sales that it had experienced in 17 months.
4. Manufacturing activity in Spain has contracted for 20 months in a row.
5. It is estimated that bad loans now make up approximately 20 percent of all domestic loans in the Greek banking system at this point.
6. A whopping 22 percent of the entire population of Ireland lives in jobless households.
7. The unemployment rate in Greece is now 26 percent. A year ago it was only 18.9 percent.
8. The unemployment rate in Spain has risen to an astounding 26.6 percent.
9. The unemployment rate for workers under the age of 25 in Cyprus. Back in 2008, this number was well below 10 percent.
10. Sales of French-made vehicles in November were down 28 percent compared to a year earlier.
11. Today, the poverty rate in Greece is 36 percent. Back in 2009 it was only about 20 percent.
12. The unemployment rate for workers under the age of 25 in Italy – a brand new all-time high.
13. An astounding 44 percent of the entire population of Bulgaria is facing “severe material deprivation”.
14. The unemployment rate for workers under the age of 25 in Spain – a brand new all-time high.
15. The unemployment rate for workers under the age of 25 in Greece – a brand new all-time high.
16. Citigroup is projecting that there is a 60 percent probability that Greece will leave the eurozone within the next 12 to 18 months.
17. It has been reported that some homes in Spain are being sold at a 70% discount from where they were at during the peak of the housing bubble back in 2006. At this point there are approximately 2 million unsold homes in Spain.
18. The debt to GDP ratio in Greece is rapidly approaching 200 percent.
19. According to the Committee of French Automobile Producers, 2012 was the worst year for the French automobile industry since 1997.
20. Back in 2005, the French auto industry produced about 3.5 million vehicles. In 2012, that number dropped to about 2 million vehicles.