The looming collapse of the emerging Eastern European countries is likely to cripple the Austrian and Swedish banking system.
Jobs for cabin crew are much more plentiful than for pilots as many cabin crew view their job as not a lifetime profession.
The nasty phase of the worst recession since World Way Two has yet to be seen in Western Europe. Just two headline today:
Fresh blow for recession recovery as UK economy shrinks by 0.8% | Mail Online
Recession twice as deep as 1990s and 'worst since height of the Depression'
Hard hit: Canary Wharf in London, where many workers have lost their jobs. The UK economy shrank by 0.8 per cent between April and June
Hopes of a swift recovery from the recession were dashed yesterday as it emerged the economy is shrinking at its fastest rate since the Great Depression.
Over the last year, gross domestic product has slumped by 5.6 per cent, the steepest crash since quarterly records began in 1955.
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Fresh blow for recession recovery as UK economy shrinks by 0.8% | Mail Online
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British economic collapse rivals Great Depression
The collapse in Britain's economy now rivals the worst days of the Great Depression, it has emerged.
Economic output shrank by 5.6pc in the 12 months to the middle of the year, according to official figures which shattered hopes that the recovery has already begun.
The Office for National Statistics said that Britain's gross domestic product (GDP) contracted by 0.8pc in the second quarter, following the unprecedented 2.4pc fall in the first three months of the year. Economists had expected GDP – the broadest measure of the country's economic performance – to shrink by 0.3pc.
According to calculations by Martin Weale of the National Institute for Economic and Social Research the profile of the current recession is now almost identical to the decline in Britain's output between 1929 and 1931. The 5.6pc contraction over the past year almost matches the 5.8pc fall in the year preceding the second quarter of 1931, during which Credit Anstalt in Austria collapsed, triggering a second wave of economic seizure across Europe.
British economic collapse rivals Great Depression - Telegraph
History suggest to us that the large airline collapses come after the technical recession has passed..
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