Eurozone unemployment hits record, Slovenia downgraded | Bangkok Post: news

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Eurozone unemployment hits record, Slovenia downgraded

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European unemployment hit a new record on Tuesday and Moody's cut Slovenia's debt rating to junk status as German Chancellor Angela Merkel defended her crisis strategy, pushing for twin goals of fiscal rigour and growth. 

Spanish job seekers queue outside an employment office in Madrid, on September 4, 2012. European unemployment hit a new record on Tuesday and Moody's cut Slovenia's debt rating to junk status as German Chancellor Angela Merkel defended her crisis strategy, pushing for twin goals of fiscal rigour and growth.

Merkel was speaking during a visit to Berlin by Italy's new Prime Minister Enrico Letta, who said this week that "Italy is dying from austerity alone" but in Berlin also pledged to stick to the path of fiscal consolidation.

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