Europe on verge of Economic Apartheid

An analyst says if European central banks continue to act on behalf of bankers and wealthy institutions rather than the whole economy, Europe will soon face an 'economic Apartheid.' The European Commission says the eurozone will witness another year of recession in 2013 as the economic output is slated to decline by 0.3 percent following a 0.6-percent contraction in 2012.

The European Commission said on Friday that the unemployment rate across the 17-nation bloc would also rise in 2013. The EU's winter economic forecast said that the jobless rate in the euro area would hit 12.2 percent for 2013. Press TV has conducted an interview with Brent Budowsky, a columnist from the Hill, to further discuss the issue. The program also offers the opinions of political and economic expert Chris Dorsey and Secretary General of the CIPI Foundation Paolo Raffone.