It was against this background of uncertainty and

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It was against this background of uncertainty and based on the institutional framework of the Treaty on European Union that the ECB’s monetary policy strategy was devised. I would like to describe and explain the reasons for this strategy in the first part of my talk today. I will then provide some thoughts on comparing certain elements of this strategy with other international approaches. Last, I will comment on the most important challenges facing our monetary policy today.
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2.2 Unemployment rate The other variable describing the economic conditions is the unemployment rate. The graph below shows the trend lines of the rate in both countries describing in the report.
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Graph 2: Unemployment rate 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 Unemployment rate [%] Source: OECD data base 2017 From 2008 to 2009, the nation hit a recession, but the unemployment of UK is greater than that Mexico, which according to (cite) GDP is still below its pre-crisis peak in many rich countries, especially in Europe and this is because the financial crisis has evolved into the euro crisis, therefore suggesting why the unemployment rate of UK is greater than Mexico. Mertens and Beblo (2015) also describe that due to the low employment protection in UK, labour market population had been affected in a welfare costs, and taking the psychological effects into account as well, suggests it was a reason for the job insecurity among the working and non-working population. Gomez Cram and Arroyo Miranda (2014), suggest behaviour in unemployment in Mexico after 2008 was caused by potential loss in efficiency
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