Eurozone unemployment hits record high

http://liveweb.archive.org/http://www.ft.com/cms/s/0/0caececc-c425-11e1-850c-00144feabdc0.html#axzz1zW3i17PI

The European Central Bank is widely expected to make an interest rate cut this week to try to invigorate the eurozone’s ailing economy after unemployment in the region climbed to a record high and a key survey of manufacturing showed the sector to be at its weakest in three years.

Attention is back on the ECB’s role in helping the eurozone emerge from its debt crisis, after last week’s EU summit agreed that the central bank should play a role in common bank supervision. Leaders also backed the view of Mario Draghi, ECB president, that eurozone bailout funds should be offered directly to recapitalise struggling banks.