€18 billion for European SMEs that hire young people

The German Labor Minister, Ursula von der Leyen, has explained that this money will begin to be available in August and will serve to reduce the credit differential between the countries of northern Europe and those of the south, one of the great problems that it strangles growth on the continent and job creation.

Among the conclusions of the employment summit held in Berlin is this action, which will see the EIB allocate up to 3,000 million euros annually to projects to create employment for young people in SMEs and another 3,000 million to training programs.

For her part, German Chancellor Angela Merkel has declared that “you cannot solve the problem of youth unemployment overnight.