EU Youth Unemployment—Is History Repeating Itself?

German Chancellor Angela Merkel said on Wednesday that money is not the main obstacle to solving Europe’s high youth unemployment. Chancellor Merkel addressed labor officials from the EU’s 28 member countries gathered in Berlin. The meeting discussed how best to end the high unemployment among the Continent’s youth.

EU leaders have allocated over €20 billion (us$26 billion) to tackle youth unemployment. However, Merkel said money alone could not fix the problem. She said for change to take place, the economy must be reformed.

Youth in Spain and Greece suffer the highest unemployment, with rates over 50 percent. Germany’s youth unemployment is only 7.6 percent.

Merkel’s main political opposition, the Social Democratic Party, protested the conference in Berlin. Its chairman told German television that Europe’s politicians have failed its young people. He blamed Germany’s youth unemployment on Chancellor Merkel.

Europe’s employment problems could affect Merkel’s chances for reelection in September. Her opponents are loudly blaming her austerity policies for the youth unemployment crisis.

In the 1930s, German youth unemployment led to the rise of extremist parties before World War ii. Is history repeating itself? Continue to watch this evolving crisis as the German election approaches. For more insight, read “An Army Waiting for a Leader.”