POSTED: 01:30 a.m. HST, Aug 04, 2012
~~<p>Greece is truly on the verge of losing its membership in the eurozone. Last week, several key regions in Spain approached their government for financial relief, but there is little to spare as $100 billion was just given to shore up Spanish banks. Moody's has announced its negative outlook on credit ratings for Europe's strongest economies, Germany, Netherlands and Luxembourg. High unemployment stubbornly rages on in excess of 50 percent in some of the hardest-hit populations. Yet, from Paris to Barcelona, Europeans are enjoying abundant travel during their summer holidays, while London is packed for the Olympics.</p>
Greece is truly on the verge of losing its membership in the eurozone. Last week, several key regions in Spain approached their government for financial relief, but there is little to spare as $100 billion was just given to shore up Spanish banks. Moody's has announced its negative outlook on credit ratings for Europe's strongest economies, Germany, Netherlands and Luxembourg. High unemployment stubbornly rages on in excess of 50 percent in some of the hardest-hit populations. Yet, from Paris to Barcelona, Europeans are enjoying abundant travel during their summer holidays, while London is packed for the Olympics.
Just being part of a common currency makes the rest of Europe seem that much more familiar, while discount airlines such as Ryanair reduce the costs of foreign travel. Still, it is the Internet that has made the world more accessible despite the global economic malaise. This summer, whether we were waiting in a long line outside the Louvre or chatting at a dive shop on the Mediterranean coast, virtually everyone could be seen peering into their smartphone sharing experiences, booking reservations and absorbing information about the sites being visited. Login for more...