Italy proposes common Eurozone unemployment insurance scheme


At yesterday’s Eurogroup meeting, Italian Finance Minister Pier Carlo Padoan proposed creating a common Eurozone jobless scheme that would be funded by the 19 EU member states sharing the single currency and could be tapped by countries experiencing sharp unemployment rate rises.

The Italian government believes such a scheme could be established without changing the EU Treaties. Ahead of the meeting, Padoan told The Financial Times, “The time is right to put [this proposal] on the table and, like any idea that may be controversial, let’s see what happens. We will try to convince our partners that it’s useful.”

Source: Corriere della Sera The Financial Times

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