In this report from Davos, euronews correspondent Isabelle Kumar looks at how some of the world’s richest business people and world leaders are hoping to tackle unemployment.
Austerity has been the watchword for the crisis and has led to countless protests across the European continent. Latvian Prime Minister Valdis Dombrovski has taken his country’s economy from bust to boom under a strict austerity policy. He credits the harsh fiscal adjustments early on in the crisis with the country’s rapid recovery.
In Europe, young people are suffering some of the worst effects of the crisis. In countries like Greece and Spain fifty per cent of the young population are unemployed. However, young people are struggling in some of Europe’s stronger economies and the knock-on effects of social unrest are beginning to be felt. The battle to save the lost generation has begun, but without economic growth it may not just be one generation that is lost but many.
Artist David Ybarra’s paintings grace the corridors in Davos and offer some welcome respite to the delegates, who each have their own interpretation of the painter’s deeper meaning.