Nini and the European Dream
July 17, 2010 6:04 PM Subscribe
In Spain, almost everyone is ‘not in education or employment.’ It’s the end of the job for life
posted by KokuRyu (92 comments total)
30 users marked this as a favorite
Doug Saunders writes in the Globe and Mail: now almost everyone (in Spain) is NINI. The under-30 unemployment rate in Spain has just hit 44 per cent, twice the adult rate. Italy also has passed the 40 per cent mark, and Greece has gone even further. If you count all the people who’ve given up looking, it means the number of people between 20 and 30 who have any form of employment in these countries is something like one in five.
The G&M will feature a short series of articles by Saunders called "Broken Europe", and he starts off the series by writing about Spain
(this is a different article than above):
(A) 44-year-old construction worker sat at the folding table in the tiny living room of his basement apartment on the outskirts of Barcelona and tried to grasp the larger meaning of a letter from the bank informing him he no longer owned the property.
The apartment will be auctioned at a fraction of the price he’d paid for it four years ago, when his fast-rising salary seemed a sure ticket to middle-class stability for his family. If a buyer is found this week, he and his four teenaged children will be evicted. As Spain has no personal-bankruptcy law, he will still owe the bank almost €200,000 – more than the current market value of the apartment – even if he loses it.
The G&M series features a Google Map with financial data by country
Upcoming stories in the series:
- Ireland: The exodus returns
- Britain: Learning to make things again
- France: The lifestyle of the state
- Germany: In the vortex, a calculated calm
- Greece: Families moving underground