Unemployment in Europe hits new high, Is it time to stop austerity?

A Record-breaking 12% unemployment in the euro area. More than 26 million men and women unemployed across the EU27 member states. More than a quarter of the workforce jobless in Spain and Greece.

Spain now has 6.2 million unemployed after a 23-month run of falling employment figures, with the young and those living in the south of the country particularly hard hit as the economy continues to shrink.

While in Greece public services are crumbling from massive austerity cuts and unemployment is rising and the economy is going to contract again this year and well into next year.

Austerity isn't working in many countries and no growth is pushing up unemployment and people are getting more angry daily. Even the EC president José Manuel Barroso has said austerity is reaching its limits.

After years of recession and austerity across europe I believe a crossroads will soon come and governments will have to decide in which direction to take. Either stick with austerity and risk increasing public disorder and anger and rising unemployment or scrap austerity and focus on growth measures to boost the economies of the EU and lower unemployment.

It's not going to be any easy task to decide. But austerity is reaching its limits and anymore cuts could wipe out funding for even basic public services.