020 7898 0500Unemployment across the Eurozone is now at its lowest level in eight years, which is being viewed as a sign of Europe’s recovery. While economists had forecast the euro area jobless rate to be at 9.4%, it was actually slightly higher at 9.5%. Still, the news is being well received, despite youth unemployment in the euro area hovering around 20%.
Elsewhere, Greece finally managed to agree a bailout deal with international creditors. In return for the next tranche of the €86 billion bailout agreed in 2015, Greece will introduce new reforms to its labour market and energy sector. In addition, there will be new pension cuts and tax rises. While the deal represents a step forward for Greece, the International Monetary Fund said debt relief was still needed. It now remains for the Greek parliament to approve the deal before the next meeting with Eurozone finance ministers on 22 May.
Later this week there will be some key data releases that could influence the euro, including the biggest figure of the week: the first reading of the Eurozone’s Q1 GDP.
The French presidential elections are now less than a week away and people around the world will be keeping their eye on developments as and when they happen.
