May 28, 2013
The European financial crisis has calmed down quite a bit.
And now the hope is that perhaps the economy is about to turn the corner as well.
But the long-term ramifications of the downturn may prove to be incredibly corrosive to European politics, and long-term economic health.
In comments today, Bank of France chief Christian Noyer says that youth unemployment is a fundamental threat to the European Project.
This is intuitive. A huge generation of unemployed youth will create volatile politics, the potential for social unrest, and blight of lost skills and time that could harm Europe for years.
Meanwhile, the EU has released a memo on tackling the youth employment crisis (via Peter Spiegel). It urges the establishment of national Youth Guarantee programs, which ensure job offers and vocational training to those under 25.
This article was posted: Tuesday, May 28, 2013 at 4:51 am