Farage Slams Eurozone As “Complete Economic Disaster”, Beppe Grillo: Why Is Only Germany Getting Richer? UK: Cost of Living Soars Four Times Faster Than Earnings… German Employment Is At Its Highest Level In More Than 20 Years Ago!!

Farage Slams Eurozone As “Complete Economic Disaster”

Farage barks that it “is absolutely clear that Eurozone membership is completely incompatible with nation-state democracy.” The complete denial (and “unutterable drivel”) about the Eurozone crisis incenses him as he says “you’d think listening to everyone this morning that it’s over.” The real problem, he explains, is that they won’t face up to the reality that “You are not facing up to the consequences for what you’ve done,” as he tries to make the technocrats comprehend, “the Eurozone has been a complete economic disaster,” because of the Euro – and the disaster is still coming down the tracks.

European factory output falls sharply

Portugal in worst recession in 37 years

Spain unveils $4.6-billion plan to get young back to work

France’s Francois Hollande admits to miss deficit target

U.K. Faces Growing Vulnerability

Italy’s companies face slow ‘death’

Beppe Grillo: Why Is Only Germany Getting Richer?

In an interview with the German business newspaper Handelsblatt, Mr Grillo said: “The northern European countries are only holding onto us until their banks have recouped their investments in Italian sovereign bonds. Then they’ll drop us like a hot potato.” The comic-turned-political activist, who campaigned against austerity measures implemented by Prime Minister Mario Monti, compared the technocrat prime minister to “a bankruptcy trustee acting on behalf of the banks” and described his Five Star Movement as: “the French revolution – without the guillotine.”

He repeated his call for a referendum on Italian membership of the euro and insisted he was not anti-European, but a critic of the way the EU has evolved.

“I have only said we need a plan B. We need to ask ‘What has become of Europe? Why do we have no common tax or immigration policy? Why is only Germany getting richer?’,” he said.

UK fears rise as cost of living soars four times faster than earnings

Budget 2013: inflation and taxation are squeezing spending power and many fear worse to come from the Chancellor next Wednesday.

No wonder nearly three quarters of those questioned by comparison website uSwitch.com said they feel poorer since the Coalition Government came to power. Worse still, 85pc of respondents claim Chancellor George Osborne “does not understand the real fears of ordinary people”.

Personal finance rather than political theory seems to be driving disenchantment. Household bills have risen by an average of 25pc over the last five years, while national average earnings edged up by only 6pc, according to the ONS.
These official figures show average earnings increased from £24,900 a year in 2008 to £26,500 at the end of 2012.

But the cost of living increased four times faster, causing the purchasing power or real value of wages to fall back to 2003 levels.  Nearly half of the 1,000 people questioned had received no pay rise at all this year and more than one in three have had their pay frozen for 12 months or more. One in eight – or 13pc – have had their pay cut.

German unemployment falls on economic recovery

BERLIN, Feb. 28 (Xinhua) — German unemployment fell in February for a third month in a row, as economic expectations for the eurozone powerhouse keep brightening, figures issued by Federal Labor Agency showed on Thursday.

The Nuremberg-based agency put the seasonally adjusted unemployment rate at 6.9 percent in February, just a tad above the 6.8 percent record low in post-reunification history.

The number of unemployment decreased by 3,000 to 2.92 million in February, according to the agency.

“The German labor market seems to be coping well with the weak economic growth in recent months and overall remains robust,” Labor Office chief Frank-Juergen Weise said in a statement.

German employment is at its highest level in more than 20 years ago. The Statistics Office said in a statement issued also on Thursday that a total of 41.4 million people residing in Germany were in employment in January.