Eurozone: Markets fall on crisis fears
14 Jul 2011European markets have fallen sharply as investors look to offload riskier assets amid fears that the eurozone debt crisis is spreading. Britain's FTSE-100 dropped 1.5 per cent while Germany's DAX-30 and Paris CAC-40 were both down more than two percent in mid-session trading on Tuesday. The euro also fell to a four-month low against the US dollar. Asian stocks also tumbled on Tuesday, with the Nikkei closing 1.43 per cent lower in Tokyo, Sydney losing 1.90 per cent, Hong Kong 2.19 per cent and Shanghai 1.48 per cent at the close of the day's trading. The losses come off the back of a steep sell-off on Monday. ’Things in Europe just seem to be going from bad to worse; you get the feeling that authorities are merely trying to plug the holes in a sinking ship. At the end of the day, they're just delaying the inevitable’, said Ben Potter, strategist at IG Markets.
Pray: for the financial situation within the eurozone that a solution will be found to halt the slide into further recession. (Pr.22:2-4)
More: http://english.aljazeera.net/news/europe/2011/07/20117126241121921.html
Eurozone unemployment reaches new high
11 Jan 2013The unemployment rate across the eurozone hit a new all-time high of 11.8% in November, official figures have shown. This is a slight rise on 11.7% for the 17-nation region in October. The rate for the European Union as a whole in November was unchanged at 10.7%. Spain, which is mired in deep recession, again recorded the highest unemployment rate, coming in at 26.6%. More than 26 million people are now unemployed across the EU. For the Eurozone, the number of people without work reached 18.8 million said Eurostat, the official European statistics agency. Greece had the second-highest unemployment rate in November, at 20%. The youth unemployment rate was 24.4% in the Eurozone, and 23.7% in the wider European Union. Youth unemployment - among people under 25 - was highest in Greece (57.6%), followed by Spain (56.5%). Overall unemployment was lowest in Austria (4.5%), Luxembourg (5.1%) and Germany (5.4%).
Pray: for the ability of the authorities to increase the workplace levels across the Eurozone. (Ps.90:17)
More: http://www.bbc.co.uk/news/business-20943292
Eurozone unemployment reaches near 15-year high
05 Apr 2012Unemployment in the eurozone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists saying they expected job office queues to grow even longer later this year. Joblessness in the 17-nation currency zone rose to 10.8% - in line with a Reuters poll of economists - and 0.1 points worse than in January, Eurostat said on Monday. ‘We expect it to go higher, to reach 11% by the end of the year,’ said Raphael Brun-Aguerre, an economist at JP Morgan in London. ‘You have public sector job cuts, income going down, and weak consumption. The economic growth outlook is negative and is going to worsen unemployment.’ February's level - last hit in June 1997 - marked the 10th straight monthly rise and contrasts sharply with the United States where the economy has been adding jobs since late last year.
Pray: that the unemployment figures would begin to reduce. Pray that governments would be able to get to grips with the economic situation.
More: http://www.euractiv.com/socialeurope/eurozone-unemployment-reaches-near-15-year-high-news-511926
Eurozone unemployment hits record high
08 Dec 2012Unemployment in the eurozone hit a record high in October, with more than 170,000 extra jobs lost and youth joblessness at almost 24 per cent, as the economy slumped into recession. Overall, the eurozone had a jobless rate of 11.7 per cent in October, up from 11.6 per cent in September, with the numbers out of work rising to 18.7 million from 18.49 million, the Eurostat data agency said. Year-on-year figures from the agency showed a particularly bleak picture for under 25-year-olds, with almost one in four out of work both in the 17-nation eurozone, and 27-nation European Union - against one in five a year earlier. Compared with October 2011, an extra 279,000 young people were out of work in the EU, and 350,000 in the eurozone in October this year. The youth unemployment rate rose to 23.9 per cent in the eurozone and to 23.4 percent in the EU compared with 21.2 per cent and 21.9 per cent respectively a year earlier, Eurostat said.
Pray: that the authorities across the eurozone will be able to find a solution to the unemployment problem.
More: http://www.aljazeera.com/news/europe/2012/11/20121130121846588948.html
European workers stage austerity protests
16 Nov 2012Workers across the European Union have staged a series of protests and strike against rising unemployment and austerity measures. Organisers of the strike urged national leaders to abandon austerity and address growing social anxiety. Strikes were in Spain, Greece, Portugal and Italy, with other protests planned in Belgium, Germany, France and some eastern EU states. Airlines across Europe have been cancelling and rescheduling flights. Spain and Portugal have been particularly hit, and airlines are recommending passengers to check the schedules before travelling to airports. The European Trade Union Confederation urged workers to walk out on Wednesday. The Confederation's Judith Kirton-Darling told the BBC that austerity was not working. ‘It's increasing inequalities, it's increasing the social instability in society and it's not resolving the economic crisis,’ she said. Some 40 groups from 23 countries were involved in Wednesday's demonstrations.
Pray: for the governments of the nations as they seek ways of mitigating the effects of the austerity measures and pray for all those who are suffering because of these problems. (Col.4:1)
More: http://www.bbc.co.uk/news/world-europe-20320993
European week against cancer
13 Jun 2013The European commission estimates that 700,000 people die and millions of EU citizens suffer as a result of smoking related diseases every year. Tobacco consumption is by far the largest avoidable health risk and the biggest cause of premature death in the EU. Linda McAvan parliament’s rapporteur on the tobacco products directive, said, ‘The biggest worry for me is that more young people smoke than adults in the EU.’ The British MEP, who is a member of parliament’s environment, public health and food safety committee, said that 28 per cent of European citizens smoke. According to the European commission, the figure for 15 to 24-year-olds is slightly higher, at 29 per cent. ‘We have to do something to tackle the recruitment of children and young people into smoking, and that’s what this new law from Europe’s about,’ McAvan said.
Pray: that the battle against cancer and smoking by the young will be taken seriously. (Ps.144:1)
European Union of Prayer
02 May 2013Intercessors from many European nations will meet again in Dublin, May 11th-18th, to pray for Europe and especially for Ireland. In the planning good contacts were made with the Evangelical Alliance and the Lydia prayer movement. A parliamentarian from Northern Ireland, who is a believer, will also visit. Major issues in Ireland at this time are the campaign against the legitimisation of abortion and the economic recovery.
Pray: for God’s mercy for Ireland and its needs, fulfilment of many prophecies for a revival in Europe. (Hab.2:3)
Representatives of European theological faculties and church theological institutes have warned against universities dropping the teaching of theology in favour of religious studies that are seen as a more general approach, reports Ecumenical News International. ‘Theology has a major role to play within the university by countering stereotypes, demonstrating ways of dealing with religious conflict, and working out its own unique specificity in dialogue with other disciplines,’ said Orthodox Metropolitan Emmanuel of France, the president of the Conference of European Churches. Pray: that the full message of the Gospel will not be hidden from those who study the scriptures. (Ecc1:13)