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EU Funds For Young Greek Jobless

newego_LARGE_t_1101_54217324_type12128It is estimated that Greece will receive the amount of €160-180 million for the two-year-period 2014-2015 in order to support employment among young people under 29 from the total of €6 billion that the European Council in Brussels, Belgium has approved.

That comes as Greece’s jobless rate for those under 25 is a staggering 64 percent and with Prime Minister Antonis Samaras promising to find jobs for 75,000 of them in January, although he didn’t say what they would be or how much they would pay, with the minimum wage being slashed to 683.76 euros ($889.54) per month – or $222.38 per week, before taxes.

Samaras also wants to let employers have the right to set wages and a number of businesses are reportedly already paying people far less with workers accepting what they can get to avoid being tossed out of work.

The European Council decided that unspent balances of Structural Funds for the years 2014-2017 will be used for special actions to fight unemployment. The accelerated and frontloaded disbursement of €6 billion was decided for the Youth Employment Program to begin in January of 2014.

The previous program supporting the employment of young people in Greece gave an amount of €155 million, offering job to about 45,000 young people up to 29 years old. According to the National Statistical Service of Greece, in the first three months of the year 2013, about 410,000 unemployed young people were recorded in Greece.

The European Council’s decisions to boost employment consist a temporary relief but do not essentially deal with unemployment, as the government sources noted. “Unemployment is treated only by increasing investments and creating real jobs,” they said.

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