Monday September 1, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Germany sees 'revolution' if welfare model is scrapped

By Ingrid Melander & Nicholas Vinocur

German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, while abandoning the continents welfare model in favor of tougher US standards would cause "revolution."

Germany, along with France and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.

We need to be more successful in our fight against youth unemployment, otherwise we will lose the battle for Europes unity, Schaeuble said.

While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europes welfare model.

If US welfare standards were introduced in Europe, we would have revolution, not tomorrow, but on the very same day, Schaeuble told a conference in Paris.

We have to rescue an entire generation of young people who are scared. We have the best-educated generation and we are putting them on hold. This is not acceptable, Italian Labor Minister Enrico Giovannini said.

Germany in particular, weary of a backlash as many in crisis-hit European countries blame it for austerity, has over the past weeks taken steps to tackle unemployment, striking bilateral deals with Spain and Portugal.

German ministers told the conference that, to help young people find jobs, Europe must continue on the path of structural reforms to boost its competitiveness as well as make good use of available EU funds, including 6 billion euros that leaders have set aside for youth employment for 2014-20.

While all agreed on the urgency needed to tackle youth unemployment, ministers offered no concrete plans, insisting Europe must be pragmatic and work on various strands.

Schaeuble said this was why Germany had also decided to strike deals with countries such as Spain and Greece.

Lets be honest, there is no quick fix, there is no grand plan, said Werner Hoyer, head the European Investment Bank.

Together with ministers, he said policies aimed at boosting youth employment must focus on small and medium-sized enterprises as they are the main entry point to the labor market for most.

More than half of Spains under 25-year-olds are jobless, as are nearly 40 percent in Portugal. In Greece, youth unemployment shot to a record 64 percent in February.

In March 2013, the lowest youth unemployment rates were in Germany and Austria, both below 8 percent, highlighting the wide disparities within the EU.

The youth employment crisis will be a central theme of a June EU leaders summit, and German Chancellor Angela Merkel has invited EU labour ministers to a youth unemployment conference in Berlin on July 3.

Following up on an idea aired earlier this month, French President Francois Hollande urged the eurozone to work towards a joint economic government with its own budget which could take on specific projects including tackling youth unemployment. [Reuters]

ekathimerini.com , Tuesday May 28, 2013 (15:38)  
Hardouvelis optimistic ahead of Paris meeting
Erdogan visits Turkish-occupied Cyprus
Laid-off cleaners to protest outside police headquarters
Protesters interrupt blessing ceremony at University of Athens
Greek economy shrinks at slowest pace since late 2008
Greece's economy shrank a revised 0.3 percent in the second quarter from a year earlier, contracting at its slowest pace since late 2008, data showed on Monday. The gross domestic product re...
Prospect of Greek grand prix back on the agenda; huge investment needed
The prospect of a Formula One racing track in the Greek capital, first raised nearly half a century ago, has re-emerged, sparked by comments on the issue from Bernie Ecclestone, president an...
Inside Business
SOCCER
Fulham striker Mitroglou set to re-join Olympiakos
Greek champions Olympiakos Piraeus are set to re-sign Kostas Mitroglou on loan from English second tier club Fulham after the striker arrived in Athens for talks on Sunday. An Olympiakos spo...
SOCCER
Tough draw for Greek sides in Europa League group stage
Following Thursday nights high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
Inside Sports
COMMENTARY
A great president
I fully understand the countrys need for political stability, a necessity which makes the election of a president by the current Parliament absolutely imperative. At the same time, however,...
EDITORIAL
Dont feed the zombies
There can be no growth without resolving the issue of nonperforming business loans. However, the solution to this problem should not be based on old establishment criteria, such as political...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Hardouvelis optimistic ahead of Paris meeting
2. Erdogan visits Turkish-occupied Cyprus
3. Greek economy shrinks at slowest pace since late 2008
4. Laid-off cleaners to protest outside police headquarters
5. Protesters interrupt blessing ceremony at University of Athens
6. Deputy Education Minister Koukodimos resigns
more news
Today
This Week
1. A great president
2. Excavation work at Amphipolis reveals section of marble mosaic floor
3. Greek officials meet to fine tune strategy for Paris talks with troika
4. Dont feed the zombies
5. Deputy Education Minister Koukodimos resigns
6. Protesters interrupt blessing ceremony at University of Athens
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. The battle against progress
3. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.