Since the eruption of the sovereign debt crisis in the Eurozone, substantial efforts have been made to create a new form of governance for the Eurozone that will make the monetary union more robust in absorbing future economic and financial shocks. Much of the drive to adapt the governance of the Eurozone has been influenced by the traditional theory of optimal currency areas (OCA), which stresses the need for flexibility in product and labour markets. As a result, the Eurozone countries have been pushed towards structural reforms that aim to reduce the structural rigidities in product and labour markets. In this paper we ask whether this movement towards structural reform as part of the push for new governance is really going in the right direction. We will argue that this is not the case. The main reason is that the nature of the shocks that have hit the Eurozone does not correspond to the pattern of asymmetric shocks that has been identified by the OCA theory to require more flexibility. We will argue that what is needed in the Eurozone is not more structural reforms but a better mechanism capable of dealing with the classical boom and bust dynamics that are inherent to capitalism.
The activity rate in the EU has continued its steady increase since 2008, in particular for older people, though not yet for younger people, as highlighted by this edition of the Employment and Social Situation Quarterly Review. Employment rate has returned to its pre-crisis level but with a much wider gap between countries, from 55% in Greece to 80% in Estonia, Germany and Sweden. The publication also stresses that permanent and full-time jobs continue to increase, though at a slower pace than in 2014. The financial situation of EU households continues to improve, with more available income in nearly all Member States, though financial distress remains high for households with the lower income.
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Designed for practitioners such as social enterprises, investors, social finance intermediaries, market builders and social enterprise support organisations, this publication will guide you step by step through the process of designing and implementing initiatives to develop social finance instruments and markets. You will discover that there is no tried-and-tested formula or recipe and that there are challenges at whatever level you operate. This practical guide provides good examples and practices that you can learn from and adapt to help you avoid possible pitfalls. Checklists and key questions at the end of each chapter will help you summarise what you have learned and move to the next step.
Drop’pin is an online portal that aims to help young people get a foot on the employment ladder. It’s designed to bring those looking to better their knowledge, skills and abilities closer to organisations offering opportunities to improve them, including corporates, SMEs and NGOs. Looking for an apprenticeship, traineeship, mentoring or e-learning courses? Drop’pin has a wide range of opportunities spanning a number of sectors across Europe. Whether you’re a young person looking for your first big break or an organisation looking for your stars of the future, Drop’pin and go far.
The 2015 winter edition of the Employment and Social Situation Quarterly Review shows improvements on the EU labour market.
Employment and activity rates have continued to increase in the EU, across all population groups and most notably for older workers (55 - 59 years). In the third quarter of 2015, the overall EU employment rate has even reached its pre-crisis level, although the progress is unevenly distributed among Member States. In addition, unemployment has continued to recede and the share of long-term unemployed persons in total unemployment has slightly gone down.
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