High youth jobless in euro countries a "catastrophe"-Schaeuble

BERLIN, April 18 Thu Apr 18, 2013 3:43am EDT

BERLIN, April 18 (Reuters) - German Finance Minister Wolfgang Schaeuble said in a speech to parliament on Thursday that high youth unemployment in some euro zone countries was a disaster that needed to be addressed urgently by policymakers.

"We must fight in particular the high levels of youth unemployoment in a number of European countries," said Schaeuble. "It is a catastrophe if 30-40 percent of young people have no job in the long term."