EU Leaders reunite for youth employment discussions

European Union leaders will be meeting today in Milan to discuss strategies in order to create employment possibilities for the youth.   EU leaders attending the meeting are Italian Prime Minister Matteo Renzi, French President Francois Hollande and German Chancellor Angela Merkel while British Prime Minster David Cameron will be absent.   This meeting will be more of a debate with PM Renzi proposing new labour laws, President Hollande discussing for more spending and Chancellor Merkel in complete discordance with her French ally.   European Central Bank’s President Mario Draghi has previously emitted strong appeals for governments to corporate in order to boost the Eurozone.   In November 1997, when European leaders met in Luxembourg, unemployment rate was around 11%. Today, the figure stands at 11.5%.   Youth unemployment has been an ongoing issue with 21.6% under 25 being unemployed according to the Eurostat.   Last year, the European Union had agreed over a sum of 6 billion euros for youth-employment initiatives which comprises of jobs, apprenticeship or a training program. The budget is scaled up for 2014 to 2020.   Source: Bloomberg
Priscilla Camryn By: Priscilla Camryn
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