Social Issues

‘EU leadership aims to establish Eurozone unemployment fund’

Published on 3 October 2013 at 10:03

Cover

In the wake of elections in Germany and Austria, “the European Commissioner for Employment and Social Affairs, László Andor presented [on October 2] proposals to add a “social dimension” to the monetary union”, which include the creation of a European unemployment benefit system, reports Der Standard.

The measures, which have been approved by the Commissioner for Economic and Monetary Affairs Olli Rehn and by Commission President José Manuel Barroso, will allow for the creation of fund to enable crisis stricken countries to pay unemployment benefit, explains the daily —

The Commission aims to counter the decline in purchasing power caused by austerity measures, which has resulted in a downward spiral.

Receive the best of European journalism straight to your inbox every Thursday

However, the daily remarks that the implementation of such a measure would require modifications to EU treaties and the unanimous support of the European Council, which is why experts believe that the project is unlikely to succeed.

Tags

Was this article useful? If so we are delighted!

It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.

Discover our subscription offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic