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EUobserver / EU unemployment potentially explosive, says Juncker

EUOBSERVER / BRUSSELS - Euro group chief Jean Claude Juncker warned about the potential social fallout from the economic crisis during discussions on Europe's toxic assets and rising unemployment on Monday evening.

"We are in the heart of an economic and financial crisis and we are headed towards a social crisis," said Mr Juncker after a meeting with eurozone finance ministers, and described the fallout as potentially "explosive".

The eurozone may be heading towards a social crisis, says Mr Juncker

Earlier, economy commissioner Joaquin Almunia presented the EU executive's latest economic forecast to the euro area finance ministers which project unemployment to rise to 9.9 percent for the euro area this year and 9.4 percent for the EU27.

Mr Juncker, who was a labour minister in Luxembourg for 17 years, welcomed the commission's report and said greater emphasis must be placed on schemes to increase employability such as life-long learning and training programmes for workers on shortened weeks.

by Fran on Tue May 5th, 2009 at 01:49:10 PM EST
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