Sadly, Obama’s ever-growing welfare state has us moving in Europe’s direction.
(Reuters) – German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent’s welfare model in favor of tougher U.S. standards would spark a revolution.
Germany, along with France, Spain and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.
“We need to be more successful in our fight against youth unemployment, otherwise we will lose the battle for Europe’s unity,” Germany’s Schaeuble said.
While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europe’s welfare model.
If U.S. welfare standards were introduced in Europe, “we would have revolution, not tomorrow, but on the very same day,” Schaeuble told a conference in Paris.
Prime Minister Mariano Rajoy of Spain, where youth unemployment is among the highest in Europe, called for the euro zone to triple aid to small businesses and allow governments to subsidize the hiring of younger workers without sanctions for overspending.