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Europe's 'Status Quo Pandering' Risks "Radicalization Of An Entire Generation"

Tyler Durden's picture


It will come as no surprise to ZH readers that the topic of youth unemployment is critical in Europe but as Der Speigel reports, while the German government's efforts remain largely symbolic, Southern European leaders pander to older voters by defending the status quo and are failing in their fight against the potential for social unrest. One graduate noted, "None of my friends believes that we have a future or will be able to live a normal life," as a lost generation is taking shape in Europe. And European governments seem clueless; instead of launching effective education and training programs to prepare Southern European youth for a professional life after the crisis, the Continent's political elites preferred to wage old ideological battles. In this way, Europe wasted valuable time, at least until governments were shaken early this month by news of a very worrisome record: Unemployment among 15- to 24-year-olds has climbed above 60 percent in Greece. Suddenly Europe is scrambling to address the problem making it an 'obseesion'. There are strong words coming out of Europe's capitals today, but they have not been followed by any action to date.



Via Der Spiegel,

Stylia Kampani did everything right, and she still doesn't know what the future holds for her.




"None of my friends believes that we have a future or will be able to live a normal life," says Kampani. "That wasn't quite the case four years ago."




The unemployment rate among Greeks under 25 has been above 50 percent for months. The situation is similarly dramatic in Spain, Portugal and Italy. According to Eurostat, the European Union's statistics office, the rate of unemployment among young adults in the EU has climbed to 23.5 percent. A lost generation is taking shape in Europe. And European governments seem clueless..




Instead of launching effective education and training programs to prepare Southern European youth for a professional life after the crisis, the Continent's political elites preferred to wage old ideological battles.




These are strong words coming out of Europe's capitals today, but they have not been followed by any action to date.


For instance, in February the European Council voted to set aside an additional €6 billion ($7.8 billion) to fight youth unemployment by 2020, tying the package to a highly symbolic job guarantee. But because member states are still arguing over how the money should be spent, launching the package has had to be postponed until 2014.




A recent Franco-German effort remains equally nebulous.




Economists also argue that it's about time Europe did something about the problem. "The long-term prospects of young people in the crisis-ridden countries are extremely grim. This increases the risk of radicalization of an entire generation," warns Joachim Möller, director of Germany's Institute of Employment Research, a labor market think tank. "It was a mistake for politicians to acknowledge the problem but do nothing for so long,"




The key to combating youth unemployment is to reform the divided labor market. But as an internal report by the German government shows, the crisis-stricken countries have hardly made any progress on this front.




In Athens, young university graduate Stylia Kampani is now thinking of starting over. She is considering moving to Germany. And this time, she adds, she might stay there.


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Mon, 05/20/2013 - 14:41 | 3581185 Kiss My Iceland...
Kiss My Icelandic Ass's picture

"None of my friends believes that we have a future or will be able to live a normal life,"


They'll have a normal life. The "new"normal : grinding poverty and hopelessness.

Mon, 05/20/2013 - 14:48 | 3581204 DoChenRollingBearing
DoChenRollingBearing's picture

Yet it appears that the young in Europe are even less prepared to support the reforms necessary to make Europe's longer-term prospect any good.  Please correct me if I am wrong!

Mon, 05/20/2013 - 14:51 | 3581223 ACP
ACP's picture

Soon the Brutals will Awaken.


Zardoz Has Spoken

Mon, 05/20/2013 - 15:01 | 3581268 wee-weed up
wee-weed up's picture

Release the Kraken!

Mon, 05/20/2013 - 15:08 | 3581300 macholatte
macholatte's picture



George Washington, as a boy, was ignorant of the commonest accomplishments of youth. He could not even lie.

Mark Twain


Youth is easily deceived because it is quick to hope.



Youth is wasted on the young.

George Bernard Shaw


Older men declare war. But it is the youth that must fight and die.

Herbert Hoover


We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history, the stage of rule by brute force.

Ayn Rand -1957


Principles have no real force except when one is well-fed.

Mark Twain

Mon, 05/20/2013 - 15:15 | 3581331 Sofa King Confused
Sofa King Confused's picture

WW III should take care of all that youth unemployment

Mon, 05/20/2013 - 17:49 | 3581850 Skid Marks
Skid Marks's picture



"Radicalization Of An Entire Generation"


See Viet Nam War

Now some of those radicals are in the universities and the White House doing what they complained about 50 years ago. 

Same shit...... different day.



Mon, 05/20/2013 - 21:50 | 3582683 EscapingProgress
EscapingProgress's picture

Dear Ms. Kampani,

I look forward to viewing your profile on



Mon, 05/20/2013 - 16:39 | 3581654 Kiss My Iceland...
Kiss My Icelandic Ass's picture



The policeman is our friend.


Bess Lindstrom

Mon, 05/20/2013 - 15:08 | 3581302 ACP
ACP's picture

...and the SPY made another inverse H&S, as usual, which points to 167.3 @ close, at least.

Mon, 05/20/2013 - 15:08 | 3581301 Doña K
Doña K's picture

The young that have no work, cannot pay taxes to support retirees. TPTB are plugging holes here and there, but they are running out of fingers.

Are you reading this BSB? You're toast.

All the PHD equations will amount to nothing as the theory of  chaos takes over.

The sweater will soon be unraveling into a skein.

Grab your 45 and shoot yourself. Your only way out. Unless of course you prefer Sepuku

Mon, 05/20/2013 - 16:06 | 3581548 Freddie
Freddie's picture

Maybe the youth will start kicking out the Islamics and Africans who are invading.

Mon, 05/20/2013 - 14:58 | 3581212 ZerOhead
ZerOhead's picture

But every cloud has a silver lining... and this one is VERY bullish for British equities.

Plus it's a great time to renegotiate your retail lease in England! (Especially if you have ten years left on your term! :)

The British Retail Consortium (BRC) said that one in eight UK shops remained vacant in April, with vacancy rate rising to 11.9% from 10.9% in January, the highest rate since the BRC study began in July 2011.

Mon, 05/20/2013 - 15:11 | 3581321 Sandmann
Sandmann's picture

You clearly don't know how British retail leases are structured. They only ratchet upwards and the lessor waits until the tenant has full stocks for the quarter before foreclosing

Mon, 05/20/2013 - 15:33 | 3581410 ZerOhead
ZerOhead's picture

I hear there is lots of flooding going on... isn't consignment a bitch?... :)

Mon, 05/20/2013 - 14:54 | 3581234 rbg81
rbg81's picture

And, yet, a lot of these kids support the status quo too--so not a lot of sympathy here.  They have been programmed that way by their teachers and professors.  They all want to be bureaucrats--but only a few will win the "lottery". 

Mon, 05/20/2013 - 16:16 | 3581578 tango
tango's picture

And, yet, a lot of these kids support the status quo too-

To all those obsessed with revolution in Europe I have pointed out numerous times that large majorities in Greece, Portugal, Cyprus, Italy and Spain are strong supporters of the EU and the euro - despite the ruination of their nations.  The kids are the worst.  Raised on a steady diet of fun, socialism and an all-powerful nanny state in which a bureacracy gives everyone their marching orders, what do you expect?

I saw a documentary wiht such non-workers.  Two majored in the arts, one in "business", one in teaching, one in computer science, etc....none in engineering, physics, or the trades. If Europe was a destination for filthy rich foreigners needing pampering they might land a job in the service industries but that is not the case. 

Tue, 05/21/2013 - 01:15 | 3583111 Sandmann
Sandmann's picture

They support the EU simply to have outsiders control their corrupt elites. Trouble is their corrupt elites have coopted the EU.

Mon, 05/20/2013 - 14:54 | 3581235 otto skorzeny
otto skorzeny's picture

Don't forget they have to deal with surly muzzies as well.

Mon, 05/20/2013 - 15:20 | 3581347 DoChenRollingBearing
DoChenRollingBearing's picture


Mon, 05/20/2013 - 14:54 | 3581237 Ag1761
Ag1761's picture

Their future will be as conscripts of the upcoming EU superstate`s New Model Army

Mon, 05/20/2013 - 15:03 | 3581275 GVB
GVB's picture

These numbers.... I bet they exactly match the % op people voting for socialism parties in their country. So it will only get worse. 

Mon, 05/20/2013 - 16:30 | 3581626 max2205
max2205's picture

Join the fucking club, what took you so long?

Mon, 05/20/2013 - 14:44 | 3581192 Chief Falling Knife
Chief Falling Knife's picture

What's the Grecian name equivalent of Ernst Rohm?

Mon, 05/20/2013 - 14:48 | 3581203 Inthemix96
Inthemix96's picture


Abolutley sickening.  There will be a terrible price these communist marxist fuckers at the top will pay.  An entire generation dumbed down, lost and without answers for their plight.

Find answers they will, and when they do, I wouldnt want to be the likes of Van Rumpoy and Co.

Mon, 05/20/2013 - 14:51 | 3581221 Kiss My Iceland...
Kiss My Icelandic Ass's picture

Marxism is the opiate of the masses.

Mon, 05/20/2013 - 14:59 | 3581252 otto skorzeny
otto skorzeny's picture

Marx did forsee this as far as the polarizing of the classes and the resulting tiny group of uber-rich and a massive group of toiling poor-it's playing out now.

Mon, 05/20/2013 - 15:10 | 3581315 Sandmann
Sandmann's picture

Marx wrote the script...he didn't tell them to follow it !

Mon, 05/20/2013 - 14:59 | 3581261 Inthemix96
Inthemix96's picture

Sorry Kiss,

Its not and never was nor never will be.  Marxism has caused more death and destruction than possibly anything known to man.

Its time for people to be free from the yoke of the centrally planned nightmare of over reaching and over arching government.

Fuck living off the backs of others.  Fuck swindling people to pay for a lifestyle you could never afford if employed in gainfull work.

And fuck the IRS.


Mon, 05/20/2013 - 15:57 | 3581510 Floodmaster
Floodmaster's picture

Marxism  != Stalinism

Mon, 05/20/2013 - 17:12 | 3581759 e-recep
e-recep's picture

you can't live without an imaginary deity, can you?

Tue, 05/21/2013 - 01:10 | 3583104 Sandmann
Sandmann's picture

Marxism has always appealed to Elites - usually Secular Jews

Mon, 05/20/2013 - 14:55 | 3581239 PiratePawpaw
PiratePawpaw's picture

Give em an I-Pad and a 32oz works on this side of the Atlantic.

Mon, 05/20/2013 - 14:50 | 3581209 Cognitive Dissonance
Cognitive Dissonance's picture

The youth of any country fights its wars and its revolutions.

<It's not nice to mess with Mother Nature......particularly if she is unemployed.>

Mon, 05/20/2013 - 14:56 | 3581242 Freedom In Your...
Freedom In Your Lifetime's picture

This is completely off topic, but I was reading 'The Body Electric' by Dr. Becker and he talks about how it is possible control pain with thoughts (among other techniques) and gives some theories as to how it works. It reminded me of your guest post from way back talking about how you tried to nail your leg to a roof. Not sure if you have looked into this at all but the book is fascinating and I thought i'd share.

Mon, 05/20/2013 - 15:02 | 3581270 Cognitive Dissonance
Cognitive Dissonance's picture

You have a great memory. That was Chapter Five of "Welcome to the Insane Asylum" called "Seeking Moral Courage".

And just to clarify.....I was not trying to nail my leg to the roof. It just sorta happened that way. :)

Mon, 05/20/2013 - 15:22 | 3581353 Freedom In Your...
Freedom In Your Lifetime's picture

I think it stuck in my mind because I really want to believe in things like that but there are so many fake stories about things of this nature that I had a hard time really believing it was true. Things like this are a great reminder for me to keep an open mind about things I may find a bit outrageous or improbable.

Mon, 05/20/2013 - 15:32 | 3581379 Cognitive Dissonance
Cognitive Dissonance's picture

I didn't believe it was possible either until I was "shown" that it was indeed not only possible, but repeatable. The lesson for me was that I wasn't so much controlling the pain as much as the fear of the pain and of the unknown that is quickly associated with the pain.

The fatal mistake many of us make when we begin to "open" our minds is that once we begin to recognize that something is quite possible, which means we are rejecting a prior belief that it is/was impossible, we suddenly feel we must replace that old belief with another. This is a serious mistake. The key to an open mind is not to create new beliefs, but to simply allow the absence of belief to dominate and flourish in order to change our perspective.

Mon, 05/20/2013 - 16:01 | 3581525 besnook
besnook's picture

you are controlling the response to pain and by doing that the actual pain is diminished.

  it is not the same as the response of the world's youth to their current fate. they seem to be in shock. the proper response should be massive riots, not peaceful demonstrations. there should be a palpable rage against the machine instead there is an almost mild frustration that .gov is not looking after them. is this the product of ignorance? of history that major change can only come by threatening the lives of the leaders? or is it the fear factor that they may actually have to give their lives in exchange of their leaders lives? or are they just comfortably numb?

Mon, 05/20/2013 - 16:46 | 3581675 Cognitive Dissonance
Cognitive Dissonance's picture

I was responding with an off topic response to an off topic comment directed towards me from Freedom......

Off topic as in no relation to the actual subject matter of the article.

Mon, 05/20/2013 - 17:09 | 3581752 besnook
besnook's picture

i connected it to the issue because it is quite similar.

Mon, 05/20/2013 - 17:58 | 3581888 kridkrid
kridkrid's picture

Awesome post... Wishi could provide more up votes. Did you ever get around to reading Psychopath Test?

Mon, 05/20/2013 - 20:59 | 3582517 Cognitive Dissonance
Cognitive Dissonance's picture

I did not. Thank you for re-reminding me to do so. :)

Mon, 05/20/2013 - 14:49 | 3581210 FishHockers
FishHockers's picture


Mon, 05/20/2013 - 14:51 | 3581214 otto skorzeny
otto skorzeny's picture

Utes with nothing to lose- euro kids are always up for a nice riot- US kids- not so much. The seeds of unrest sprout steadily in the spring sun.

Mon, 05/20/2013 - 14:53 | 3581230 Kiss My Iceland...
Kiss My Icelandic Ass's picture

Counselor, what is a "ute"?

Mon, 05/20/2013 - 15:11 | 3581318 AKrandy
AKrandy's picture

Ya know dees two yutes

Mon, 05/20/2013 - 15:14 | 3581327 youngman
youngman's picture

What..only 5 dead and 25 injured in Chicago this weekend..the utes of America no how to spray and pray quite well

Mon, 05/20/2013 - 14:50 | 3581216 newworldorder
newworldorder's picture

The EU cannot fix its unemployment problems while subsedising its bankster class. The unemployment numbers are too big and the debt is too big as well. EU leaders must choose to fix unemployment or continue the bankster subsidy.

Its one or the other. To date they have chosen to ignore the EU citizens in favor of banksters. 

Mon, 05/20/2013 - 14:52 | 3581227 otto skorzeny
otto skorzeny's picture

Feel free to substitute US for EU in this comment.

Mon, 05/20/2013 - 16:14 | 3581575 Freddie
Freddie's picture

The same open-borders marxist letting the third world flood in including msulims and africans.  The countries are broke, no jobs yet they still let the third world flood in.

Mon, 05/20/2013 - 14:59 | 3581255 PiratePawpaw
PiratePawpaw's picture

If only we could engineer some sore of armed geo-political conflict....It would occupy the youths, generate jobs, and profits for the 1%......Have they tried that yet?

Mon, 05/20/2013 - 15:00 | 3581264 PontifexMaximus
PontifexMaximus's picture

They will move ahead to do so

Mon, 05/20/2013 - 14:50 | 3581218 Steve Brown
Steve Brown's picture

The ground has never been more fertile for social unrest. When the disaffected youth take to the streets, the shooting by TPTB will commence and anarchy will rule.

Mon, 05/20/2013 - 15:05 | 3581286 Kiss My Iceland...
Kiss My Icelandic Ass's picture

"The ground has never been more fertile for social unrest."

And yet, the sheeple continue to cower and wait for the invisible hand of Keynesian intervention to save the day. Maybe the next trillion of QE will do the trick ! LOL

Mon, 05/20/2013 - 14:53 | 3581229 cabtrom
cabtrom's picture

All the worlds elites are sitting in a room arguing over who has to sell their Farrari. Haha

Mon, 05/20/2013 - 15:26 | 3581371 reload
reload's picture

They are not: sales of Ferrari, Lamborghini, Porsche, Zonda, McLaren etc etc are solid as a rock. Ferrari just had a record 1/4 in Japan. If the Elites are arguing about anything it is parking spaces for mega yachts in Monaco harbour - where they are building bigger facilities to accomodate the vast private ships now so popular with the looting classes.

Mon, 05/20/2013 - 16:51 | 3581689 johny2
johny2's picture

they are having the best time since the Roman Empire times. as long as China can provide the slave labour and USA can provide petroleum, they are going to have it easy.

Mon, 05/20/2013 - 14:56 | 3581243 PontifexMaximus
PontifexMaximus's picture

Markets need, as I said before, high unemployment rates, whether for young or "old" people. That's the oxygene, markets need. Reality? Who the hell cares. Larry Fink used to say: it (all) doesn't matter. So who is right. By the way, anyone tickets for champ. leag. final London? They could ask for 1000 pounds tag, sold out. So again, who cares? And Hollande, Letta, Rajoy et al know it full well. So be sure, Mario and Ben will synchronize every step.

Mon, 05/20/2013 - 15:27 | 3581381 reload
reload's picture

I just sold a pair for £700 with ease.

Mon, 05/20/2013 - 14:57 | 3581244 Never One Roach
Never One Roach's picture
Tourism chiefs dismiss fears after Paris riots

May 15th, 2013



"Honey, what do ya say we skip that 'romantic' trip to Paris this year and head over to Seaworld and say Hi to Shamu instead?"

Mon, 05/20/2013 - 15:04 | 3581271 Son of Loki
Son of Loki's picture

Beijing on Saturday urged French authorities to better protect Chinese tourists known for their big spending habits, citing "concern" over recent attacks on visitors to Paris.

"France has long been considered a dream destination in China, where it is often lovingly portrayed as the country of "romance".

But that dream has recently turned into a nightmare for some Chinese tourists, who have been victims of violent robberies and other aggressions. Chinese media has in recent weeks reported on several such incidents."

Mon, 05/20/2013 - 15:50 | 3581479 PontifexMaximus
PontifexMaximus's picture

I do not want them in Paris, the frogs are already pushing up prices and giving no countervalue, as they always did in Paris.

Mon, 05/20/2013 - 15:15 | 3581322 Kiss My Iceland...
Kiss My Icelandic Ass's picture

"Tourism chiefs dismiss fears after Paris riots"

"Pay no attention to the rioting youths beneath the Eiffel Tower! Move along folks, nothing to see here ... "

Mon, 05/20/2013 - 15:21 | 3581350 Charles Wilson
Charles Wilson's picture

"Honey, what do ya say we skip that 'romantic' trip to Paris this year and head over to Seaworld and say Hi to Shamu instead?"

Shamu has had it. He told his Psychotherapist the other day that he's about ready to break out.

"You think it's easy swimmin' around inna play pool all day?...For freakin mackeral' for God's sake?  I'm tellin' ya', let little Johnny get just a little closer and I'll show you all.  I've had it.  Why don'cha loop that movie of my family roostin' out a few penguins, OK?  I tell you, I'm BIG and I float the dime around here.  You think THAT matters?  Don't nobody get ANY kind'a support around here.  Things are gonna change, Reeeeel soon, I can promise you. Real soon."

Mon, 05/20/2013 - 14:57 | 3581247 Seasmoke
Seasmoke's picture

The devil will find work for idle hands to do

Mon, 05/20/2013 - 14:57 | 3581248 Kaiser Sousa
Kaiser Sousa's picture

they have a future...

and the sooner they learn how to make malotov cocktails and begin hurling them at the cocksucker bankers and their bitch owned politicians the brighter that future will become....

Mon, 05/20/2013 - 15:17 | 3581336 mkhs
mkhs's picture

It might make more sense as:

Mon, 05/20/2013 - 15:00 | 3581267 Stuck on Zero
Stuck on Zero's picture

Wait!  Aren't these youth supposed to be supporting the older generation with the incredible benefits and pensions?


Mon, 05/20/2013 - 15:05 | 3581291 Charles Wilson
Charles Wilson's picture


"Instead of launching effective education and training programs to prepare Southern European youth for a professional life after the crisis, the Continent's political elites preferred to wage old ideological battles."

That these 2 statements are concatenated together is astonishing.  The old "Ideological Battles" were PRECISELY about "launching effective education and training programs", etc., etc., to NAUSEA.

Never a mention of education and training happening in...I dunno...a JOB maybe?

Capitalism or...uhhh...Oh, NEVER MIND.




Mon, 05/20/2013 - 15:18 | 3581338 Kiss My Iceland...
Kiss My Icelandic Ass's picture

It would be laughable if it weren't so sick. O tempora !

Mon, 05/20/2013 - 15:51 | 3581484 PontifexMaximus
PontifexMaximus's picture

...... O mores

Mon, 05/20/2013 - 15:07 | 3581298 Joe A
Joe A's picture

It is a big problem but unemployment among high school and university's undergraduate and graduate students is also due to the fact that many students do 'fun studies' without any real prospects for a job. Who needs 'leisure time consultants',  'social media advisors', 19th century Enlish literature graduates, etc.?

And they actually think they are entitled to get a job in these 'professions' while these jobs are  just not there.

There will always be work for people who actually know how to do something but these kinds of studies are looked down upon in Europe. Also, not many people are taught skills needed to promote themselves, for work searching, how to set up a business and to look for work other than the profession you studied. And societies also don't make it easy for them: no internship places are created, no support and guidance for young people with a business idea, no business incubators.

It is a hard wake up call for some but knowing how to chat, make funny videos and text really fast are not skills that any employer is looking for.

Mon, 05/20/2013 - 15:09 | 3581308 Sandmann
Sandmann's picture

There are lots of unemployed Chemistry graduates, Engineers, Aeronautical Engineers, IT Programmers, Physics is only Media studies graduates that get jobs in Amazon warehouses

Tue, 05/21/2013 - 02:45 | 3583186 Joe A
Joe A's picture

In my country NL there are 15,000 IT positions that cannot be filled. Overall there is a shortage of any kind of engineers and medical staff such as nurses. But any technical profile is not appreciated neither in salary not in carreer prospects in NL.

They tried outsourcing but that was not much of a success. People who are unemployed now had jobs mostly in services or in administration although due to the housing crisis also a lot of construction workers lost their jobs (or were replaced with cheaper Poles).

Mon, 05/20/2013 - 15:07 | 3581299 Sandmann
Sandmann's picture

They will all have to come to Britain which ZH always ignores. It may not be in the Euro but it is a Class A Basket Case, though ZH never mentions it. Youth unemployment is simply ignored but facts on the ground are different from Bloomberg terminals.

There is not a lot of difference between Britain and Italy really

Mon, 05/20/2013 - 15:09 | 3581310 Uncle Zuzu
Uncle Zuzu's picture

Germany at 7.9% and Austria at 9.9%, show-offs!

Mon, 05/20/2013 - 15:15 | 3581332 timbo_em
timbo_em's picture

Merkel is a clever bitch. It should be clear by now that she uses the Euro to cure Germany's horrible demographics.

Mon, 05/20/2013 - 15:16 | 3581335 Floodmaster
Floodmaster's picture

Remove the military and the US is worse than Spain.

Mon, 05/20/2013 - 15:20 | 3581346 youngman
youngman's picture

I do think many College grads will be under employed for many years...its what they do with those underemployed years is they re educate the go out and do their own thing...sole proprietor...startups....or do they just file for disablitly ..move to Colorado for the easy access to pot....and call it a life....I think the latter unfortunatly....

Mon, 05/20/2013 - 15:24 | 3581360 Fezter
Fezter's picture

Bring back the Holy Roman Empire....Otto I will fix this mess....

Mon, 05/20/2013 - 15:39 | 3581443 Boondocker
Boondocker's picture

Hmmmm.Britian must have really low

Mon, 05/20/2013 - 15:45 | 3581462 BattlegroundEur...
BattlegroundEurope2011's picture

The UK is NOT in Euro land.

The UK is not part of the Socialist Republic of Europe.


The sooner UKIP gains traction or our useless 3 Main Parties wake up the better.

We Brits do not want anymore Europeans pls.  We are full.


Mon, 05/20/2013 - 18:26 | 3581982 harry555
harry555's picture

Fellow Europeans are fine.  It's the third world dross that's the problem.

Tue, 05/21/2013 - 13:26 | 3584565 BattlegroundEur...
BattlegroundEurope2011's picture


Close the borders and get our "OWN" ppl to bloody work instead of sponging from the Social.  We have enough unemployed to fill all the jobs in the country.


Then and only then do we open our borders back if there is a REAL need.

End of.


Tue, 05/21/2013 - 02:54 | 3583189 Joe A
Joe A's picture

Europeans don't want no binge drinking English hooligans and slags nor bloated arrogant ex-pats anymore.

Mon, 05/20/2013 - 15:46 | 3581467 Floodmaster
Floodmaster's picture

Strangely Germany/Austria never had a housing bubble (same price as 1970) as the PIIGS have.

Mon, 05/20/2013 - 15:57 | 3581508 PontifexMaximus
PontifexMaximus's picture

It is difficult for the anglosaxon world to understand, that high youth unemployment in EU is an absolute nobrainer. They are doing well, they enjoy a nice life. So, believe me, no one cares in EU about it.

Mon, 05/20/2013 - 15:58 | 3581517 Gordon Freeman
Gordon Freeman's picture

Lazy, disaffected, eurotrash are perfectly happy to keep sucking off the government teat. 

Fake-indignant articles like this ZH perennial chestnut, purporting that Europe is full of a seething youth underclass, are just pathetic and risible.  As others have pointed out, these kids vote FOR this stuff!

Mon, 05/20/2013 - 16:05 | 3581544 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

When the promises can't be kept that youth unemployment thing becomes a real issue and it is not just the youts that you gotta worry about then.

Mon, 05/20/2013 - 16:02 | 3581528 malek
malek's picture

 "None of my friends believes that we have a future or will be able to live a normal life," says Kampani. "That wasn't quite the case four years ago."

Now has only the belief changed or the whole future - that's the next question.

Mon, 05/20/2013 - 16:09 | 3581562 Kreditanstalt
Kreditanstalt's picture

"launching effective education and training programs" would be equally useless, treating the symptoms rather than the problem.

What is needed is radical deregulation, smaller governments, lower taxes, less government have to make it possible for people to become entrepreneurs.  It isn't now.

And, of course, the elimination of fractional reserve banking, central banking and fiat money!

Mon, 05/20/2013 - 16:15 | 3581577 PontifexMaximus
PontifexMaximus's picture

U took the words rite out of my mouth

Mon, 05/20/2013 - 16:17 | 3581582 PontifexMaximus
PontifexMaximus's picture

La cupola non lo vuole, mai!

Mon, 05/20/2013 - 17:29 | 3581795 My Days Are Get...
My Days Are Getting Fewer's picture

When utter hopelessness sinks in, Rudi Dutsche and Baader Meinhof will be resurrected.  There are plenty of groups who would like to see Europe degenerate into anarchy. And, the free-flow of weapons and munitions from East to West would be easier than transporting drugs.  If the governments don't stop giving money to the banks and redirect their efforts to rebuilding civil society, you only need the bottom one percent to forcefully engage themselves to destroy the status quo.  And, a whole bunch of people in the lower strata of society will offer passive support because they too have nothing to lose.

Mon, 05/20/2013 - 17:45 | 3581836 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And if share some of the spoils, once they get a taste....

Tue, 05/21/2013 - 02:58 | 3583192 Joe A
Joe A's picture

I don't know. People have become complacent and passive. I mean, in the past smaller crisis led to more civil unrest and acts of resistence/terrorism then we see now. I wondered why in countries such as Greece or Spain people instead of popping bankers and politicians are killing themselves.

Tue, 05/21/2013 - 02:37 | 3583179 AgentScruffy
AgentScruffy's picture

Yes to economic liberalization: the strides made by the Baltic states, though not perfect, are promising.

Mon, 05/20/2013 - 16:17 | 3581584 Divine
Divine's picture

Seems like all the kids in Europe are doing dope. 


This will end up in tears bitches

Mon, 05/20/2013 - 18:33 | 3582008 Poor Grogman
Poor Grogman's picture

Starting a business from scratch that can employ people and make it's owner financially comfortable, is virtually impossible with all the red tape and indecipherable regulation.

Even if by some good luck and Herculean effort you were able to overcome all the state imposed hurdles to wealth creation, you would be taxed into oblivion while simultaneously being portrayed by loud mouths as a "rent seeker" or some sort of capitalist parasite.

Why would you bother?

Atlas has shrugged, and is enjoying a good book, he might get out of his chair after the great reset...

Mon, 05/20/2013 - 19:15 | 3582177 pashley1411
pashley1411's picture

Its not the end of the world.

The Chinese youth of that time lived thru the Cultural Revolution.   They may be bitter about the lost opportunity for what amounted to sheer political theater. 

Other generations have to live thru stupid and pointless wars.   Sad for them, and yet it happens.

So, in a different context but similar result, the youth of the EU countries are sacrificed on the pyre of their elder's promises and delusions.    

Mon, 05/20/2013 - 19:57 | 3582330 Loophole
Loophole's picture

The only thing govts can do to help in their economies is to get the hell out of them.  Aside from the military, police, courts, and their support services, everything else they do is, one way or another, just wealth redistribution.

Some stealing from others.

But it looks to me that people are determined to learn this the hard way.  The very hard way.

Mon, 05/20/2013 - 20:16 | 3582384 Apocalypse airt...
Apocalypse airtractor's picture

Lots of jobs coming soon to euro youth. As long as your throwing arm is good and you can fill bottles with petrol. Of course no base salary or benifits it's strictly straight commission work, what you can haul home that isn't smoke damaged.

Tue, 05/21/2013 - 03:16 | 3583187 Sauerkraut-Opinion
Sauerkraut-Opinion's picture

There is a simple way to solve the problem: Wage-dumping like in Germany.

This intra-eurozone trade war will not come to a good end: German entrepeneurs, bankers and shareholders wish socialication of the euro-desaster ( continue with this wage-dumping-currency) while skimming of profits and avoid necessary wage-increases in Germany (...without there will never be a balance..), southeuropean leaders wish either (re-)starting the money printing machine or substantial tax transfers from Germany to keep on with their familiar living standard. A transferunion means in net terms further wage- and social cuts in Germany for the lower class - this is the way they try to go - everything depends on the strong neoliberal propaganda machine in Germany to manipulate the exploitees between Flensburg and Garmisch but people start asking question if they have to turn the wheel twice as fast as rest of europe to ensure the survival of a common currency which obviously does not fit for a completely heterogeneous community of countries in terms of economy and culture. Easy to predict: Until the election date is taking place certain discussion - after the "E-Day" Berlin will sacrifice one third of it's own sheeps. After september 22th Angela Merkel will - in a televised adress - declare the official start of the European transferunion wrapped by a half-hearted forerunner of a "commun economy-government" within the eurozone. The ESM is already created, quiet certain another new authority will be feeded by the EZB via EIB. Welcome transferunion!

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