Greece Unemployment Record High

The ongoing Greek tragedy takes another bleak turn. New data reveal the latest unemployment rate for Greece has soared to 26.8 percent—the highest rate ever recorded in the European Union. The data, which cover October 2012, show Greece surpassing Spain, awarding it with the undesirable title of most unemployed country in Europe. Greece has been struggling financially since 2009, forcing it to pass strict austerity measures in 2012 that included canceling Christmas. The country is now relying on $315 billion in rescue loans coming from the European Central Bank, the International Monetary Fund, and the European Commission.