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High youth jobless in euro countries a "catastrophe" - Schaeuble

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(Globalpost/GlobalPost)

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said in a speech to parliament on Thursday that high youth unemployment in some euro zone countries was a disaster that needed to be addressed urgently by policymakers.

"We must fight in particular the high levels of youth unemployoment in a number of European countries," said Schaeuble. "It is a catastrophe if 30-40 percent of young people have no job in the long term."

(Reporting by Noah Barkin and Madeline Chambers)

http://www.globalpost.com/dispatch/news/thomson-reuters/130418/high-youth-jobless-euro-countries-catastrophe-schaeuble