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Schulz: 'Crisis only over when 25 million unemployed have found a job'

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20141009PHT73559_width_600Youth unemployment is "not only a personal catastrophe for young people, but also for their parents, grandparents, kids, friends and relatives," European Parliament President Martin Schulz warned at the European employment summit in Milan on 8 October. During his speech, Schulz called for more action to help create work, including investment in research and infrastructure: "Build schools, repair streets, install broadband, support start-ups, finance innovative research projects."

He added: "The crisis will only be over, when Europe has stable growth rates, the 25 million unemployed have found a job, companies can obtain loans for their innovative business ideas and our children look with hope to the future. Today we have to build the basis for a good tomorrow."

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