eurozone woe

Those who speak of economic woe in america need to know that eurozone economy is worse and in fact, it is falling off a cliff into the cold waters below. Currently, eurozone new unemployment rate stands at 8.2% and is rising. The sky high unemployment rate figure will put pressure on ECB or European Central Bank to cut loan rates even below 2%. The fall in core inflation is due to a reduction in consumers ability to find work and as eurozone new jobless queues lengthen we see an increase in pain.