LOST GENERATION For most of us it will be a while before we will seek employment and have to pay our own bills. Tuna Dökmeci thus asks why the youth – already now – should care about the current crisis. he lost generation. That was how we were re-
T
job market? These are questions that many young
ferred to by many newspaper headlines during
Europeans are currently asking themselves, often
the last year. However, for once it was not about
in a situation in which their families are no longer
complaining about the de-politicisation of today’s
able to support them financially.
youth, nor was it a critical remarks on our social
Many also claim that the crisis will probably not
media consumption. Instead they addressed Eu-
be solved in a short period of time and is likely to
rope’s economic crisis and how it will most likely
continue affecting our chances of getting a job and
affect the youth of today. So why is it that relevant
our lifestyle in the long-term. Patrick Artus of the
to us, and what’s more, why is it more relevant
French bank Natixis, says that “It is illusionary to
than any other political issue?
say that it will soon be over. The current system
Firstly, the crisis has led to a major increase in the
will have to be reversed, and that takes possibly
youth unemployment rates; currently stabilising
up to 20 years”, according to Artus. This state-
at just over 20% in the Eurozone. The numbers
ment implies that our adult lives, naturally affect-
are worrying, but its effects on everyday life even
ing our way of living and working, are likely to be
more: think about how many young and well-edu-
greatly affected but what is happening at this very
cated people you know are struggling to find a job.
moment.
Do you think that you nonetheless have the same
Needless to say that this problem is our problem,
chances of getting a job, as you did before 2008?
and it matters very little where we are from, what
Will you decide on your major depending on your
kind of education we have received and what our
interest, or on your chances of getting employed?
social status is. Unless we realise this, and take
Can you confidently say that the education you are
ownership of solving the crisis, we will indeed be
receiving will distinguish you from others in the
the lost generation of Europe.
2009
April: Greece, Spain, Ireland and France ordered to reduce their budget deficit
4 ge
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January: Major Irish banks nationalised due to insolvency
2010
December: Greece admits to debt of €330 billion
June: Euro closes at lowest against dollar since 2006
July: EU “Stress Tests” on financial institutions reveal 7 institutions are capital insolvent