The responsables of Labor and Economy of the four countries will attend the ministerial meeting convened by Prime Minister Enrico Letta, gearing up for the European Council meeting at the end of June
The Letta government doubles its commitment for a European policy to promote employment, especially among young people. In order to prepare for the European Council Summit on June 27-28 dedicated to the labor crisis, the Italian Prime Minister has called for a ministerial summit June 14th in Rome to be attended by the Ministers of Economy and Labor from Italy, France, Germany and Spain.
A press release from the Italian Government indicates that this meeting, the first of its kind, is intended to provide an opportunity for an exchange of views and coordination in light of international tasks scheduled between the end of the month and the beginning of July. The summit, which will be opened with a working breakfast with Prime Minister Letta, will provide a platform for collaboration between the ministers of the four largest countries in the Eurozone to prepare for the European Council Summit, the ministerial meeting in Berlin on July 3rd and a G20 meeting in Moscow planned for the middle of next month.
Pressed by double-digit unemployment, the Italian Government aims to strengthen coordination between financial and labor policies both on a national and European level in order to combat unemployment, especially among youth. Hence the recognition that a rapid improvement in the labor market is an essential condition to boost growth of the EU economy at a time when Eurostat data confirms a Eurozone GDP reduction in the first quarter of this year equal to .2% which becomes .5% in Italy with a decline that on an annual basis amounted respectively to 1.1% and 2.3%.
The Minister of Labor, Enrico Giovannini, stressed that it was the first time that the ministers of labor and finance work together to prepare a European summit and the fact that “they work together is a cultural change in terms of approach.” So henceforth rigor and growth, stability of public finances and employment are no longer an alternative but rather should be approached together with the objective of ensuring a better future for Europe.
Michel Sapin and Pierre Moscovici from France, Ursula von der Layen and Wolfgang Schaeuble from Germany, and Luis de Guindos Jurado and Maria Fatima Garcia Baez from Spain will participate in the meeting in Rome with Ministers Enrico Giovannini and Fabrizio Saccomanni.
