Protection of older workers is harming aspiring young
workers in Europe. Recent WSJ piece notes:
“In Europe's weaker
economies, people in their 20s and 30s often have little hope of achieving the
careers, wealth and economic security enjoyed by their parents. In places like
Spain and Italy, the employment rate has tumbled for people under 40 since
2008, even as it has stayed relatively steady or grown for their parents'
generation. Their predicament is exposing a painful truth: The towering cost of
labor protections that have provided a comfortable life for Europe's baby
boomers is now keeping their children from breaking in.”
Italy's Lost Decade (Italy appears to have fallen into a
triple-dip recession - third recession since 2008)
http://www.nytimes.com/2014/08/08/upshot/italys-lost-decade.html
http://www.nytimes.com/2014/08/08/upshot/italys-lost-decade.html
Philippe Legrain’s rather pessimistic take on European
affairs:
ECB chief Draghi emphasizes the uneven nature of Euro area
recovery:
http://www.reuters.com/article/2014/08/07/us-ecb-rates-economy-idUSKBN0G71FZ20140807