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Very Bad News for Europe’s Young People
If young people in Europe were a company, I would be telling you to sell the stock.
Why? Well, because politicians want to help them. And, as perfectly illustrated by this Eric Allie cartoon (as well as the cartoon he has at the bottom of this post), government at best unintentionally harms those it tries to help.
To see what I’m talking about, here’s some of what the EU Observer is reporting today.
EU leaders gathering in Brussels on Thursday (27 June) for a two-day summit will again turn to measures aimed at helping young people to get jobs, as unemployment figures soar in southern countries. The summit kicks off at 4.30pm local time with a meeting between leaders, trade unions and employers’ associations, to hear what actions they are taking to boost youth employment. …The European Commission has already drafted a paper on how the EIB could boost its lending powers. Its loans are used mostly by small and medium enterprises, which could hire more young people if they get the money to fund expansion. Under the most ambitious scenario, EIB lending could exceed €100 billion.
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