London

Youth unemployment could bring 'social risks,' says Draghi

ECB chief warns of lack to tackle inter-generational fairness

Youth unemployment could bring 'social risks,' says Draghi

London, May 24 - Some European countries are at risk of "social consequences" from high unemployment, especially among youth, European Central Bank (ECB) President Mario Draghi told a group of business leaders and politicians in London at a Thursday evening event. "Reforms are needed to ensure inter-generational fairness by tackling the phenomenon of 'insiders versus outsiders' - a phenomenon that is driving youth unemployment to levels that threaten the very fabric of society," the ECB president said. According to forecasts released earlier this month by Istat, unemployment in Italy will rise to 11.9% this year, up 1.2% in 2012, and climb further still in 2014 to reach 12.3%. Youth employment reached 38.4% in March, 3.2% higher than the same month in 2012, the statistics agency said.

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