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More Nannycrat Insanity: EU Wants to Ban Youth Unemployment
Published : December 06th, 2012
483 words - Reading time : 1 - 1 minutes
( 4 votes, 5/5 ) , 2 commentaries Print article
 
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Youth unemployment is shockingly high in Greece, Spain, and Italy as shown by Europe's Most Tragic Graph by The Atlantic.

 




Young workers in Greece and Spain are facing an absolutely egregious work drought, where half of high-school and college-graduates ready to find a job aren't finding one. And 55% isn't the ceiling. Both economies are shrinking and unemployment is a lagging indicator -- as Americans have learned, the rate can keep going up after an economy technically starts growing. This economic tragedy can easily become a social disaster as young promising people either leave their country to work somewhere else or else turn to illegal or violent activities to protest policies wrecking their economies or lash out against a country that's leaving them behind.

 

EU Wants to Ban Youth Unemployment

Looking for a reason for the rise of the neo-Nazis in Greece? Look no further than economic depression and over 50% youth unemployment. So what to do about it?

Courtesy of Google translate from German of Frankfurter Allgemeine, please consider
EU Wants to Ban Youth Unemployment.

The European Commission wants to oblige EU countries to all people under 25 to secure a job. How states are to implement the guarantee, it will not betray.

The Member States of the European Union should guarantee all people aged less than 25 years in the future, within four months some form of employment. These governments should issue a so-called youth guarantee, as stated in a regulatory package that wants the department responsible Commissioner László Andor imagine this Wednesday in Brussels.

 

Economic Idiocy

It would be nice if the economic illiterates in the nannyzone would stop and figure out why youth unemployment is so high.

The primary answer is work rules, pension rules, and other rules are so harsh that companies simply do not want to hire workers.

France is heading down the same idiotic path with an economically insane proposal by French president Francois Hollande
"Make Layoffs So Expensive For Companies That It's Not Worth It"

Any clear-thinking person should quickly realize that if companies cannot fire workers they will be extremely reluctant to hire them in the first place.

Thus, it should be no surprise to discover
French Unemployment Highest in 14 Years (And It's Going to Get Much Worse).

Moreover, Italy, Spain, France, and Greece are already suffering from massive public sectors. Those sectors need to shrink, not expand.

In France, Government spending amounts to 55% of total domestic output. For discussion, please see
Hollande's Honeymoon is Over; 54% of Voters Unhappy; Unions Promise "War" in September.

Now the nannycrats want government to take over still more of total output instead of shrinking it, at a time when every country in the EU is struggling to reduce deficits.

Insanity does not begin to describe the stupidity of this proposal, which I might add (the EU offers no way to implement in the first place).


 

 

Data and Statistics for these countries : France | Greece | Italy | Spain | All
Gold and Silver Prices for these countries : France | Greece | Italy | Spain | All
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They have to at least claim they're trying to 'ban' youth unemployment. Unemployed European youth are usually the first ones signing up to join the rebellion, any rebellion. Read more
dennyc - 12/7/2012 at 6:46 PM GMT
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Mish

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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They have to at least claim they're trying to 'ban' youth unemployment. Unemployed European youth are usually the first ones signing up to join the rebellion, any rebellion.
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My friends and family often quip, "What chapter are we in?", when reading news stories like the above. The reference is of course to 'Atlas Shrugged'.
Oh, well. Who is John Galt anyway?
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