Youth unemployment is in a class of its own in Spain (56pc) and Greece (58pc), but it has also reached depression-era levels in Italy (38pc) and is breaking fresh records in France (26.5pc).
(...)
The latest jobs push involves €6bn of funding for small business over seven years through the European Investment Bank (EIB), but this is a tiny sum and such forms of credit have run into technical problems before.
Werner Hoyer, the EIB’s president, did not even try to disguise his scepticism on Tuesday. “Let’s be honest, there is no grand plan. The chance that the EIB can solve these problems is greatly exaggerated.”
(...)
Any serious form of “New Deal” would need the assent of Germany’s Bundestag, and there is little support for fresh spending from either of the two main parties. The Social Democrats warned on Tuesday that they will not back the New Deal proposals with a “blank cheque”.
(...)
Labour specialists say the eurozone is cutting its future economic growth rate by excluding an army of young people from the workforce at a crucial stage in their lives .
Nobel economist Peter Diamond says their career trajectories will be hurt for 10 to 20 years. The concern is that all the economic gains of EU reforms will be washed away by the greater economic losses of unfulfilled lives.
Jacques Attali, former special counselor to President François Mitterrand & great apparatchik of the EU & global "System" has admitted that:
«If I was twenty today, I would hesitate between exile, politics and revolution»
(«Si j’avais vingt ans aujourd’hui, j’hésiterais entre l’exil, la politique et la révolution»)