Christine Lagarde: How To Cut Unemployment In Europe

Christine Lagarde: How To Cut Unemployment In Europe
An 'Oficina de Empleo' sign hangs outside the entrance to an employment office in Madrid, Spain, on Wednesday, April 3, 2013. Spain's government is waiting for the result of negotiations with the European Union on its budget deficit goals before deciding on its tax policy for 2014. Photographer: Angel Navarrete/Bloomberg via Getty Images
An 'Oficina de Empleo' sign hangs outside the entrance to an employment office in Madrid, Spain, on Wednesday, April 3, 2013. Spain's government is waiting for the result of negotiations with the European Union on its budget deficit goals before deciding on its tax policy for 2014. Photographer: Angel Navarrete/Bloomberg via Getty Images

As we begin the new year, Europe confronts both good and bad news. First the good news. Growth is finally picking up in the euro area as it is slowly emerging from the deep recession. The bad news? Still nearly 20 million people are unemployed. Until the effects on employment have been reversed, we cannot say that the crisis is over.

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