EU expects record unemployment in Europe

In its economic forecast is the EU Commission for the euro-zone to a gloomy outlook. The double-digit unemployment and France and Spain come short of the Maastricht criteria.

The unemployment rate in the euro-zone is a European Commission forecast to keep rising to a record high of 11.0 percent. "It is expected that unemployment remains high," the agency announced in Brussels in presenting its spring forecasts for economic development with the EU.

Thus, unemployment in the 17 euro area countries on average achieved this year and next year respectively to the record level of 11.0 percent. Previously, the maximum value is 10.9 percent, that reached in March.

For the entire European Union, the Commission expects this year and into next year, an unemployment rate of 10.3 percent on average in each case. In March, the rate for the EU as a whole was 10.2 percent. This is already the highest value that has been extended since the beginning of 2007 to the European Union to 27 Member States.

Euro-zone is located in "mild recession"

After the Euro-zone Brussels and the entire EU is now in a "mild recession". "The economic activity in the EU in the last quarter of 2011 and shrunk, according to estimates in the first quarter of 2012," says the economic outlook presented by the EU Commission.

For the full year, experts predict a zero growth for all 27 EU countries and a decline of 0.3 percent for the 17 euro countries.

Spain and France miss deficit target

Spain and France will miss a forecast of the European Commission, which aims to reduce their budget deficits. Spain is in this and next year well above the record highs set for the new debt, as the authorities in Brussels predicted. France will exceed the target this year, thus slightly in the coming year as well.