Unemployment figures similarly reveal various paths after the crisis within the euro area. Of the selected group of countries, only Germany and Ireland managed to reduce unemployment to pre-crisis levels. Demertzis and Wolff warn that ‘if differences are too large, it may not be sustainable politically’. However, they also find the dispersion of unemployment rates in the euro area comparable to US states, thus ‘potentially allowing for a form of partial unemployment insurance’.
Unemployment rate in %, 2010-2016, selected euro-area Member States
Unemployment figures similarly reveal various paths after the crisis within the euro area. Of the selected group of countries, only…
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