EUROPE
The economy in Europe has always been helped a great deal by the formation of the European Union. This has allowed trade barriers to be removed and makes it easier for countries to do business with each other. While this has made things easier in some respects it can be difficult to get member states to agree on policies, meaning some issues get held up by intractable negotiations between countries.
Europe’s economy has been struggling a great deal in recent years following problems with the single currency. There are 17 European nations currently part of the single currency and a number of these are struggling economically. Greece, Spain and Italy are among those that have experienced a prolonged economic slump over the last couple of years and the Eurozone is currently working hard to prevent the single currency from
collapsing. Several countries are being bailed out by the European Union and this includes countries that are not part of the single currency but whose survival is imperative to stabilise the economic region.
The positive steps that have been taken have helped to give more confidence in the future of the European economy although the situation remains unstable. Greece and Spain have unemployment of more than 25% (end of 2013). Compare this with Germany at the same time with unemployment of less than 6%. Europe as a whole had an unemployment rate of around 10.5%, which is slightly higher than average levels around the world. Individual nations also have their own internal issues. Greece, for example, has had problems with taxation and poor government for a number of years
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