EU must reverse macroeconomic policies

Steve Davies appears on Russia Today

The EU needs to reverse its macroeconomic policies and stop supporting the euro if it doesn’t want record unemployment to result in civil disorder and political problems, Dr. Stephen Davies from the Institute of Economic Affairs told RT.

Skyrocketing youth unemployment is becoming the greatest concern for European nations. EU leaders are sounding the alarm over an entire generation who they fear will never find jobs.

At a Paris conference, Germany, Italy and France have urged for action to avert a continent-wide catastrophe, with over 7.5 million young people across Europe currently out of work.

Even Germany, which has the strongest economy in Europe, is suffering from joblessness as unemployment in the country increased four times above expert expectations this May.  

Education director at the Institute of Economic Affairs, Dr. Stephen Davies, believes that the set measures to cope with record unemployment in the EU won’t require a lot of funding, but only the desire to reform from the European politicians.

Read the full interview here.