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Unemployment of young people is at the “dramatic proportion”


One proposal, floated in a German news report Monday, would use a development bank owned by the European Union to funnel credit to companies that create jobs for young people in the eurozone, nearly a quarter of whom are without jobs.

Angela Merkel, the German chancellor, considers youth unemployment to be Europe’s biggest challenge, her spokesman said Monday.

The EU pooled a fund by 60 billion Euro for decreasing the unemployment for people under the age of 25. New solutions will be offered on the question of unemployment among the youth during the conference.

Prime Minister of Spain Mariano Rajoy Brey is expected to attend the conference in May 28 to come together with President Francois Hollande of France.

A quarter of younger population unemployed in EU

One out of four young people are unemployed in EU according to Statistical Office of the European Communities (EuroSTAT).

For this reason, EU programs to fight unemployment, which is the result of the ongoing economic crises, especially for the young people under the age of 25.

Some of the most important EU Countries, for which the young people unemployment reached to serious levels, are Greece (59 percent), Spain (57 percent), Italy (38 percent), and Portugal (38 percent).

Prime Ministers of Italy, Spain, and Greece came together last week, and called for EU to put the issue of the young unemployment on their agenda.

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