Youth unemployment in the euro area exceeds 24%
IMF calls on Europeans to focus on growth and employment
Christine Lagarde, Director of the International Monetary Fund yesterday, Called the European Banking Federation project and to reduce high debt levels and to make the labor market work more flexible process designed to focus on growth and employment in order to reduce the number of unemployed to complete economic recovery. According to ' German ', said Lagarde, during a speech to the European policy research center in Brussels, Europe achieved good performance turns to positive growth, but that does not change the effects on the recruitment process, we can say that the crisis was over, highlighting the high levels of unemployment in the long term, that much under 25 unable to find a job, especially in southern Europe. And the overall unemployment rate among young people in the euro zone to 24.2 per cent in November, while that figure rises to more than a third in Italy and Portugal and more than 50 per cent in Spain and Greece. LaGarde has developed three priorities for promoting growth and creating new jobs in the European Union with the Banking Union, which is hampered by the crisis priority list.
And the Washington-based IMF periodically in European economic problems, but sometimes causes evaluation in discomfort on the other side of the Atlantic. LaGarde's remarks came at a time where EU Finance Ministers on a nearby building in the Belgian capital to discuss the progress made on the second pillar of a bank consortium and is a controversial project to address the failures of banks and protect taxpayers from bearing the cost of packs.