European Union leaders gathered for the start of a two-day summit in Brussels. Their focus is action against youth unemployment. Their aim is to unlock six billion euros over the next two years.
The money should be available immediately and used in programmes to offer young people under 25 training and work. Irish Prime Minister Enda Kenny whose country holds the EU’s rotating presidency said, “It is an important day for 500 million citizens, it is also an important day for the 26 million unemployed.”
The arriving leaders were boosted by two significant agreements which were reached before the opening sessions.
European Finance ministers agreed how to share the cost of any future bank failures among investors and wealthy savers. It is designed to shield European taxpayers from having to foot the bill.
The second breakthrough came after more than seven months of negotiation with the agreement of a long-term budget for the EU from 2014 to 2020 involving nearly one trillion euros.