French unemployment hits 13-year high.

France's jobless rate reached a 13-year high in Q2, rising to 10.2% from 10% in Q1. Excluding France's overseas territories, the figure was 9.7% vs. consensus of 9.8%. In all the talk about bond-buying and austerity, the figures are a reminder of the desperate state of the eurozone economy. The ECB is also making an interest rate decision today, with Credit Agricole expecting the bank to cut rates to 0.5% from 0.75%.