News / Economy

EU Confronts Youth Unemployment Crisis

EU Confronts Youth Unemployment Crisisi
X
June 28, 2013 9:48 PM
The European Union has agreed to create a multi-billion-dollar fund to tackle its youth unemployment crisis, which has led to warnings of a lost generation. Even as the bloc struggles through an economic crisis, its expansion plans continue - with Serbia set to begin formal accession talks in the coming months. Henry Ridgwell reports for VOA from London.
Henry Ridgwell
The European Union has agreed to a multi-billion dollar fund to tackle its youth unemployment crisis, which has led to warnings of a lost generation. Even as the bloc struggles through the economic crisis, its expansion plans continue - with Serbia set to begin formal accession talks in the coming months.

In Spain and in Greece, unemployment among under-25s is running at over 50 percent.

In Portugal, there are lines every day outside the Angolan and Brazilian consulates, as job-seekers look for better fortunes in the country's former colonies.

It is a vicious downward spiral, says John Springford of the Center For European Reform policy group.

"When people have been out of work for a long time they tend to lose the skills that they have, they lose initiative, and also the social problems like drug and alcohol abuse can make them quite difficult to employ again," said Springford.

Unemployment in the EU, 2000-2013Unemployment in the EU, 2000-2013
x
Unemployment in the EU, 2000-2013
Unemployment in the EU, 2000-2013
Meeting in Brussels Friday, EU leaders agreed to spend $7.8 billion over the next two years to tackle youth unemployment. Herman Van Rompuy is president of the European Council.

"We know that reforms take time and results won't be immediate.  So we're also concentrating on launching actions with direct impact.  Fighting youth unemployment and helping SMEs [small and medium enterprises] access credit," said Van Rompuy.

There are about 5.6 million unemployed young people in Europe - and the money simply won't be enough, says economist John Springford.

"We're looking at about a thousand euros [$1,300] per person.  And the thing that we know about youth unemployment is that when unemployment is high generally, then youth unemployment will be even higher.  And so this kind of problem is best sorted out by macroeconomic policy rather than microeconomic tinkering," he said.

From left: Irish Prime Minister Enda Kenny, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso participate in a media conference at an EU summit in Brussels, June 28, 2013.From left: Irish Prime Minister Enda Kenny, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso participate in a media conference at an EU summit in Brussels, June 28, 2013.
x
From left: Irish Prime Minister Enda Kenny, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso participate in a media conference at an EU summit in Brussels, June 28, 2013.
From left: Irish Prime Minister Enda Kenny, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso participate in a media conference at an EU summit in Brussels, June 28, 2013.
European commissioners have described this week as a good one for the EU - after a deal was clinched on a $1.25 trillion seven-year budget for the bloc, ending months of argument between member states.

Croatia joins the European Union on July 1, while EU leaders agreed Friday to begin accession talks with Serbia no later than January next year.  European Commission President Jose Manuel Barroso hailed the agreement.

"This is historic. Let's not forget what happened not so long ago in that part of Europe with one of the most violent wars we ever saw.  And now we will start negotiations with Serbia," said Barroso.

Key to the accession process has been the Serbian government's willingness to negotiate, says James Ker-Lindsay of the London School of Economics.

"There has been a tremendous transformation that's taken place over the past year since the arrival of a new government which many people thought would be a step back.  It had a reputation of being nationalist.  But in actual fact it's made a whole range of moves, so most importantly on relations with Kosovo, which has been a very, very tricky subject since Kosovo declared independence in 2008," said Ker-Lindsay.

Meanwhile Latvia gained formal approval Friday to join the eurozone on January 1, 2014 - becoming the 18th country to use the currency.

You May Like

South Korea Divided on Response to North’s Cyber Attack

In past five years, officials in Seoul have accused Pyongyang of hacking into banks, government websites, causing chaos and inflicting millions of dollars in damages More

Video Calm Amid Fear in Daily Life in S. Sudan’s Bentiu

Residents have been trying to regain some sense of normalcy, but planning for the future remains uncertain as fear of attacks looms More

2015 Could Be Watershed for Syria Conflict

Republican control of US Senate in January could lead to more aggressive policy against IS militants in Syria - and against regime of Bashar al-Assad More

This forum has been closed.
Comment Sorting
Comments
     
by: Paulo Roberto Mattos Luiz from: Brazil
July 07, 2013 5:31 PM
To invest in the export sector and sell to all countries in the world, big ones and small ones outside the European Union is the only viable solution to create new jobs for the youth. For the world to be a better place to live, all countries should be partners. Togetherness in business. That's the way.


by: Yoshi from: Sapporo
June 28, 2013 7:46 PM
My son is now looking for a job facing the next spring's completion of university. It looks a bit better conditions for Japanese youth to get jobs than EU. I wish EU youth fortune and good jobs. Thank you.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Ugandan Doctors Aid Victims of Sudan's Civil Wari
X
Adam Bailes
December 22, 2014 3:45 PM
In Sudan's state of South Kordofan, the number of amputees as result of civil war is in the thousands, but few have access to sufficient medical help. Adam Bailes recently visited the area and says a small team of Ugandan doctors has been providing remote help, producing new prosthetic limbs for those in need.
Video

Video Ugandan Doctors Aid Victims of Sudan's Civil War

In Sudan's state of South Kordofan, the number of amputees as result of civil war is in the thousands, but few have access to sufficient medical help. Adam Bailes recently visited the area and says a small team of Ugandan doctors has been providing remote help, producing new prosthetic limbs for those in need.
Video

Video Jane Monheit Christmas Special

Chanteuse Jane Monheit sings the holiday classic “Have Yourself a Merry Little Christmas,” and explains why it’s her favorite song of the season.
Video

Video Calm Amid Fear in Daily Life in S. Sudan’s Town of Bentiu

Six months ago, Bentiu was a ghost town. The capital of northern Unity State, near South Sudan’s important oil fields, had changed hands several times in fighting between government forces and rebels. Calm returned in November and since then, residents of Bentiu have been trying to regain some sense of normalcy. Bentiu’s market has reopened there are plans to start school again. But fears of new attacks hang heavy, as Benno Muchler reports from Bentiu.
Video

Video US Business Groups Press for Greater Access to Cuba

President Barack Obama's decision to do all he can to ease restrictions on U.S. trade, travel and financial activities with Cuba has drawn criticism from some conservatives and Republicans. People who bring tourists to the island and farmers who want to sell more food to Cuba, however, think they can do a lot more business with Cuba. VOA's Jim Randle reports.
Video

Video Three Cities Bid for Future Obama Presidential Library

President Barack Obama still has two years left in his term in office, but the effort to establish his post-presidential library is already underway. The bid for the Obama Presidential Library is down to four locations in three states -- New York, Hawaii, and Illinois. As VOA’s Kane Farabaugh reports, each of them played an important part in the president’s life before he reached the White House.
Video

Video Fears of More Political Gridlock in 2015

2014 proved to be a difficult year politically for President Barack Obama and a very good year for the U.S. Republican Party. Republican gains in the November midterm elections gave them control of the Senate and House of Representatives for the next two years -- setting the stage for more confrontation and gridlock in the final two years of the Obama presidency. VOA National Correspondent Jim Malone has a preview from Washington.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.

All About America

AppleAndroid

World Currencies

EUR
USD
0.8157
JPY
USD
119.96
GBP
USD
0.6402
CAD
USD
1.1629
INR
USD
63.200

Rates may not be current.