Schäuble: Europe cannot withstand such high unemployment
Schäuble: Europe cannot withstand such high unemployment
"I am convinced that Europe cannot withstand such high unemployment rates for much longer," German Finance minister Wolfgang Schäuble said from Berlin
"I am convinced that Europe cannot withstand such high unemployment rates for much longer," German Finance minister Wolfgang Schäuble said from Berlin. The warning came after a meeting with the Portuguese Finance Minister Vitor Gaspar. In Portugal, the unemployment rate reached 18% and in Greece 26%.
Tackling unemployment and the creation of jobs, especially for young people, are now top priority issues for the European Union, Schäuble said.
In a joint statement with Gaspar, they are highlighting the progress made by Portugal in terms of regaining credibility in international markets, but add that this progress is not yet reflected in the country’s economy. The two ministers agreed to work together to create the Portuguese body for economic development, which they called as a "vital tool for investment, sustainable growth and the strengthening of employment."
As they said, addressing financial barriers is essential in order to maintain the ability of European countries to provide social goods and to face unemployment, especially that of young people.
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