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3/1/12

Europe look for growth amid high unemployment

Europe's leaders travel to Brussels today, hoping to chart the continent's way back to growth as figures showing unemployment in the 17-country eurozone spiking to its highest level since the euro was established in 1999.

While the two-day summit is for once taking place amid relative calm on financial markets, Europe's population is only starting to feel the full impact of the massive budget cuts and economic uncertainty of the past three years.

New figures showed that unemployment in the 17-country eurozone hit 10.7 percent in January — the highest level since the currency union launched 1999. The situation in the 27-country European Union is not looking much better, with unemployment reaching 10.1 percent in the first month of the year.

For more: Europe look for growth amid high unemployment | ajc.com

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