EU allocates resources to encourage youth employment

European Union (eu) leaders allocated $8 billion to encourage under 25 age group employment in the union where every one out of four of the youngsters are unemployed. EU Council Head Herman Van Rompuy told a press conference that dealing with youth unemployment was "difficult but not impossible''. Youth employment schemes should be accelerated and youth mobility increased, he added. Van Rompuy said the eu leaders decided on 6 billion euros ($8 billion) to help youth training schemes. Nearly a quarter of people aged 18 to 25 in the eu are unemployed. The unemployment rate in Greece is 63 percent, 56 percent in Spain, 52 percent in Croatia, 43 percent in Portugal, 41 percent in Italy, 34 percent in Slovakia, and 33 percent in the Greek Cypriot administration.