Bruges Group Director to Press TV: Eurozone Unemployment Rate Alarming
Local Editor
The issue of the Eurozone unemployment rate has reached an alarming point, the director of the London-based Bruges Group told English-speaking Iranian channel Press TV.
"Unemployment is alarmingly high within the Eurozone. It will signal that the economic problems will continue," Robert Oulds said on Wednesday.
The analyst went on to say that the economic "catastrophe" in the Eurozone would never be solved by "a quick resolution."
The overall Eurozone jobless rate came in at 12.1 percent, unchanged from May, Agence France Presse quoted the Eurostat data agency as saying.
Moreover, Oulds slammed the European Union for its handling of the financial crisis, and the austerity measures imposed by the EU governments.
He said, "Solutions that the Eurozone has had to take so far are not helping, they are actually hurting - such as the government cutbacks, the tax rises."
"It takes money away from the least well-off in society and that is the wrong way to solve economic problems at this time," he added.
Source: Press TV, edited by website team
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