Experts and analysts are anticipating an economic depression once again in Europe. In past, it was 1930, when Europe underwent a deep concerning and historic economic depression. It was a saga of struggle for many people and their families. Now in the 21st century, economic depression is here again, and in order to survive from this one, a lot of discussions are going on all over. In the year of 1930, situations were tough, but as a standard of life at that time was different from today, and requirements for life weren’t that high, the depression was bearable. In the present era, things have changed drastically. This is the era of technology and electronic gears. Thus, the standard of life of the people is now quite high. Naturally, getting out of the economic depression seems quite impossible in these days.
Though it is not yet claimed by the countries and nations, Europe is technically going through economic depression. If the economies of the countries are analyzed separately or they are analyzed together, the pattern of depression will be clearly visible. Countries like Italy and Greece are already under the radar and rest of Europe is following suit. This is a unique side of the European economy. As Europe is an integrated economy, when depression or recession hits, the effect spread all over the place. This is the normal pattern and it has been this way for a long time.
The same trend is continuing these days, and that is why along with economically weaker countries, comparatively healthy countries of Eastern Europe are also getting into the box slowly. Estonia is the only exception, though it is not known, how long it will be able to keep itself out of the downslide. One of the biggest reasons of this economic depression is unemployment. The employment scenario in Europe is bad and it’s getting worse every day. In countries like Greece and Spain, half of the youth is unemployed, in Italy and Portugal, one-third of the population is unemployed and more people are joining the rank every day. Unemployment scenario is worst in the last fifteen years in the Euro-zone.
If you go through the data, then you may get a completely different picture. According to the data of 2011, GDP growth has been satisfactory, but that doesn’t mean one can rest in peace. The situation is worsening with every passing minute. Though the reports are not yet showing the reality, they soon will. You need to keep your eyes open and the situation will become clear. Already the adversities of economic depression have struck the people of European countries. People of different ages are taking their lives. These events are translating into horror for common people all over the continent.
Since 1930s Europe is battling depression and recession in the economy. In these past decades, many situations cropped up and they have been dealt with properly. That is why Europe has been able to avoid financial meltdowns more than once. This time the situation is worsening rapidly and if some effective strategies are not formulated right away, it will be really difficult for the European economy to get out of the depression. The condition is turning against the tide and only some miraculous strategies will be able to provide some solution.