Europe Rescues Banks, But Loses An Entire Generation

Via Disclose.tv:

Europe has spent hundreds of billions of euros rescuing its banks but may have lost an entire generation of young people in the process, the President of the European Parliament said.

Since the region’s debt crisis erupted in Greece in late 2009, the European Union has created complex rescue mechanisms to prop up distressed countries and their shaky banking sectors, setting aside a total of 700 billion euros.

But little has been done to tackle the devastating social impact of the crisis, with more than 26 million people unemployed across the EU, including one in every two young people in Greece, Spain and parts of Italy and Portugal.

“We saved the banks but are running the risk of losing a generation”, said Martin Schulz, a German socialist who has led the European Parliament, the EU’s only directly elected institution, since January last year.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s