Friday, 30 March 2012

EU households still in the financial crisis

The European Commission published some new surveys results as to EU citizens dealing with the financial crisis and its effects on both the employment market and household expenses (Employment and Social Situation Quarterly Review). In general, it is estimated that since 2008 the level of financial distress in EU households remains more or less the same, despite a moderate improvement over recent months. The slight improvement manifests itself by a fewer number of households reporting that they are running into debt. Not surprisingly, the lingering effects of the financial crisis influence more the households with lower income. Additionally, there is a difference across Member States with consumers in Germany and Sweden reporting improvement of their situations and households in Greece, Spain and Romania - deterioration of their finances.

On the effects of the financial crisis on the labour market and child poverty see this quarterly review.

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