David Miliband, British foreign secretary, Read more
© The Financial Times Ltd 2015 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
For most of the past twenty years, high levels of unemployment in Europe have been a source of shame and concern for European policymakers. Conversely, the Americans have revelled in the extraordinary job-creating US economy. Whenever Europeans defended their welfare states, or poined to inequality in the US, the Americans had a ready riposte – at least our people are at work.
But, without exciting much comment, things have now changed. American unemployment is alarmingly high – 9.8% according to the tables at the back of The Economist. By comparision, Britain is 7.9%, Germany 8.2%, the Netherlands 5.1%, Denmark 3.7%. The euro-zone as a whole is at 9.6%, just below the States – but the average is dragged up by Spain’s outstandingly poor performance, with unemployment of 18.9%. Read more
For those of you who have not yet made it to p.24 of the second section (UK edition) of today’s FT, may I bring your attention to what seems to the single most amusing/interesting fact in today’s paper.
Paul Betts in his European View notes that, during the French EU presidency, France hosted a three day “Union of the Mediterranean summit” that cost 16.6m euros. He goes on – “On the occasion of that summit, a shower was specially installed in the Grand Palais in Paris at a cost of €245,000 for the personal use of the president. Mr Sarkozy never used it.”
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Gideon Rachman is away until September 1st, working on a special project.