Employment With labour set to move freely within the region under the CSME, the implications for the employment situation in Barbados have come under increasing focus. While production is expected to gravitate towards lower-wage jurisdictions, labour would theoretically be attracted to higher-wage jurisdictions, of which Barbados is generally acknowledged to be one.
Banks in the euro area have been particularly affected as the financial crisis was followed by a sovereign-debt crisis, which has set in motion a negative feedback loop between banks and sovereigns. As a result, over the past six years, bank credit to the real economy and, in particular to SMEs, has fallen dramatically in the EU.