German jobless rate climbs for a fourth month

Note: This section contains information in English only.
Source: Bloomberg
The number of jobless people increased by a seasonally-adjusted 7,000 to 2.89 million, the adjusted unemployment rate held at 6.8%, the Federal Labor Agency announced on Tuesday. In July, German business confidence dropped to the lowest in two years amid market confusion and the Eurozone recession. The European Commission estimated a 0.3% decline for Eurozone economy in general.
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Tue, 31 Jul 2012 11:10:51 GMT

Spain regional redemptions hurt existing bondholders

Spain's government has doubled loans for 17 semi-autonomous regions to 41 billion Euros, as local authorities failed accessing capital markets to get debt redemptions, defray suppliers and fund the deficits. Terms of the backstops determine that in the case of region's default government would get repaid before existing bondholders.

Tue, 31 Jul 2012 10:18:51 GMT

Italian unemployment rate hits 13-year high

Italy's jobless rate climbed to a seasonally-adjusted 10.8%, record high since the Q3 of 1999, Istat reported on Tuesday. Italy's economy slipped for a third quarter amid intensifying Europe' debt crisis and Mario Monti's austerity actions, which deepened countries recession. Youth was hit the most, with unemployment among people between the ages of 15 and 24 at 34.3% in June.

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