Eurozone unemployment spikes to highest rate since 1999March 1, 2012 - 14:23 AMT PanARMENIAN.Net - Official figures show that unemployment in the 17-country eurozone unexpectedly spiked to 10.7 percent in January, its highest rate since the euro was established in 1999. The increase reported Thursday, March 1, by Eurostat, the EU's statistics office, was way more than expected. The consensus in the markets was for the rate to remain unchanged at the 10.4 percent rate previously reported for December. Instead, December's rate was meanwhile revised upwards to 10.6 percent. Eurostat also revealed that inflation across the eurozone ticked up in February to 2.7 percent from 2.6 percent the previous month. The increase takes inflation further above the European Central Bank's target of keeping price rises at just below 2 percent. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. Lavrov sees ‘collapse’ of Russia’s ties with Armenia Russian Foreign Minister Sergey Lavrov has underscored heightened tensions between Russia and Armenia. Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine |