European countries have seen their unemployment rates skyrocket, first fueled by the global recession and then by the continent's debt crisis.
Budget cuts imposed to control outsized deficits — which have cut have thousands of public-sector jobs and left little money for economic stimulus or employment programs — have only exacerbated youth unemployment.
Many countries with the worst unemployment problems, like Greece, Spain and Italy, are implementing labor market reforms that should eventually spur growth and create more jobs by making it easier for companies to hire and fire people, but they will take a long time to yield results.
In a joint editorial published in French and German newspapers Tuesday, they warned that "elevated unemployment that (young people) are enduring is a social, economic and political threat."
Taking an extra step, Rajoy called on the EU to change its deficit procedures so that countries would no longer be penalized for spending money on fighting youth unemployment.
Small- and medium-sized businesses, which employ the vast majority of young people, have complained that since the global economic meltdown in 2008, gaining access to loans has become increasingly difficult.
Germany, which has faced criticism for spearheading Europe's focus on austerity, has also pledged to help Spain specifically ensure better access to credit for its small and medium-sized companies - but few details have emerged.
Budget cuts imposed to control outsized deficits — which have cut have thousands of public-sector jobs and left little money for economic stimulus or employment programs — have only exacerbated youth unemployment.
Many countries with the worst unemployment problems, like Greece, Spain and Italy, are implementing labor market reforms that should eventually spur growth and create more jobs by making it easier for companies to hire and fire people, but they will take a long time to yield results.
In a joint editorial published in French and German newspapers Tuesday, they warned that "elevated unemployment that (young people) are enduring is a social, economic and political threat."
Taking an extra step, Rajoy called on the EU to change its deficit procedures so that countries would no longer be penalized for spending money on fighting youth unemployment.
Small- and medium-sized businesses, which employ the vast majority of young people, have complained that since the global economic meltdown in 2008, gaining access to loans has become increasingly difficult.
Germany, which has faced criticism for spearheading Europe's focus on austerity, has also pledged to help Spain specifically ensure better access to credit for its small and medium-sized companies - but few details have emerged.
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