As Unemployment Shrinks in Europe, Big Disparities Linger [WSJ]
- Justin Jungwoo Lee
- Jan 10, 2019
- 1 min read
Even if the unemployment dropped throughout Eurozone, the degree of enhancement differs countries from countries. Germany showed a good sign, whereas Italy, Spain, and Greece still lingered in a bad territory. Such disparities between northern and southern countries stems from a single currency system of Euro. Using a single currency, Euro, constraint monetary measures of Italy, Spain, and Greece: these countries cannot depreciate their home currencies by lowering interest rates. Single currency without common budget has inherent vulnerability that exacerbate gap among countries.
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