Schäuble: Europe cannot withstand such high unemployment

Tackling unemployment and the creation of jobs, especially for young people, are now top priority issues for the European Union, Schäuble said.

In a joint statement with Gaspar, they are highlighting the progress made by Portugal in terms of regaining credibility in international markets, but add that this progress is not yet reflected in the country’s economy. The two ministers agreed to work together to create the Portuguese body for economic development, which they called as a "vital tool for investment, sustainable growth and the strengthening of employment."

As they said, addressing financial barriers is essential in order to maintain the ability of European countries to provide social goods and to face unemployment, especially that of young people.