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  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/handlers/views_handler_argument.inc on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/views_handler_filter.inc on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/modules/node/views_handler_filter_node_status.inc on line 14.
  • strict warning: Declaration of date_api_filter_handler::value_validate() should be compatible with views_handler_filter::value_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/date/includes/date_api_filter_handler.inc on line 578.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of uc_product_handler_field_price::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/uc_product_handler_field_price.inc on line 94.
  • strict warning: Declaration of uc_product_handler_field_weight::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/uc_product_handler_field_weight.inc on line 61.
  • strict warning: Declaration of views_handler_field_user::init() should be compatible with views_handler_field::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/modules/user/views_handler_field_user.inc on line 48.
  • strict warning: Declaration of semanticviews_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/semanticviews/semanticviews_plugin_style_default.inc on line 232.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/views_plugin_row.inc on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • warning: Creating default object from empty value in /home1/finfacts/public_html/sites/all/modules/views/includes/handlers.inc on line 653.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/views/plugins/views_plugin_style_default.inc on line 25.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
European Union

European Union

(February 2014) Eurozone unemployment remains high for youth and 25 to 35-year-olds. Following two years of recession in the Eurozone, Greece, Italy, Portugal and Spain can expect a return to positive GDP growth but likely at less than 1% in 2014. While the labour market situation no longer appears to be deteriorating further, nevertheless, what remains alarming is high youth unemployment and - - even though it attracts less public attention – the often equally precarious employment situation of 25 to 35-year-olds in the crisis-stricken countries.
(February 2014) In January, the US unemployment rate fell to a seasonally 6.6% while in the Eurozone, the latest figures, to December 2013, show that the rate was at 12%. However, economists have calculated that if the Eurozone had seen a drop in the labor-force participation rate proportional to the fall experienced by the US, its unemployment rate would be 9.5%, below where it was at the beginning of the sovereign-debt crisis. Other economists say the unemployment levels are similar when account is taken of participation levels.
(February 2014) In 2008 the Eurozone unemployment rate stood at 7.6% and no single country had an unemployment rate in excess of 9%. At the end of 2013, 26.7m men and women were unemployed and the average unemployment rate was 12.1%. The highest rates by far were recorded in Spain (26.7%) and Greece (27.3%). In the medium term, this situation is not expected to improve substantially. For 2015, the European Commission’s autumn forecast still predicts an average rate of 11.8% for the Eurozone.
(January 2014) The average age of a car in Europe is over 8 years: in 2010 the average age was 11.9 years in Finland and 6.3 years in Ireland. In the US, average age of vehicles in US is over 11 years while research shows that in the US -- by far the world’s largest consumer of oil - - transport sector demand is falling. This is not a temporary phenomenon driven by the economic downturn. This is a structural shift reflecting changes in life style and work patterns as well as gains in fuel efficiency. In Europe, petrol consumption is at a 25-year low.
(January 2014) Entrepreneurship development is an important requirement for achieving of smart, sustainable and inclusive growth. It is also a means to respond to new economic challenges, to create jobs and to fight social and financial exclusion. The impact of the global financial and economic crisis calls for giving entrepreneurship and self-employment a stronger role in economic and social development policies.
(December 2013) The program of the new German grand coalition does not win favour with David Folkerts-Landau, Deutsche Bank group chief economist. He says the coalition is embarking on a regressive economic policy course that threatens to undermine the successes of the previous decade. The last major structural reforms aimed at improving Germany's prospects as a business location and the efficiency of its labour market were implemented almost ten years ago. These reforms were essential for Germany to shed the label of “sick man of Europe”. The current planned course of economic policy reveals a lack of understanding of the preconditions for growth in a globalised economy. "Going down that road, Germany might end up assuming this label once again."
(December 2013) Every business has to allow for the possibility of bankruptcy. Whereas in Germany such failure is frowned upon as a taboo, in the US it's part of the business culture. Companies make mistakes, learn from them and get back on their feet. It's all just part of the learning experience.
(December 2013) At 7% of GDP or €187bn Germany had one of the largest current account (trade and financial balances) surpluses in the world in 2012. In 2013 a similar surplus is expected. Among the industrialised countries only Switzerland (11%), oil-exporting Norway (14%) and the Netherlands (10%) have larger surpluses. A break-down of the 2012 surplus shows that EMU (European Monetary Union) accounted for 31%, the US for 19%, non-China Asia for 15% and non-EMU Europe and other Americas for 12% each. The current Euro Area share is almost the same as in 2002 - - although it peaked at 62% in 2008. While Germany’s deficit vis-à-vis China shrank substantially, surpluses with the rest of Asia rose strongly. The bilateral surplus with the US has fallen from 63% of the total (2002) to 19%. Germany last had a deficit in 2000. France had a surplus of 3.1% of GDP in 1999 (first year of the euro) and since 2005 it has had a deficit every year. It was -2.2% in 2012.
(December 2013) The impact of culture as a potential economic engine for cities is not a new discovery but it has received a lot of attention in recent times with the growth of so-called knowledge jobs. In Germany in 2011, economists examined the contemporary economic impact of the lavish baroque opera houses that princes had constructed prior to the industrial revolution.
(November 2013) Housing prices in German cities have been rising so strongly since 2010 that a possible overvaluation cannot be ruled out, according to the Bundesbank, the central bank. Over the past 3 years, the prices for houses and apartments have risen by a total of 8¼%.