University of Twente Student Theses


Youth Unemployment and Financial Crisis: NEET rates in the PIGS countries

Hell, D.M. (2016) Youth Unemployment and Financial Crisis: NEET rates in the PIGS countries.

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Abstract:During the period between 2006 and 2013, the Eurozone economy has witnessed the consequences of a manifold scenario of financial crises, originating from the same credit crunch phenomenon as a feature of financial instability. On the surface, NEET rates of young adults between 25 and 29 increased drastically in the PIGS countries during that period, as a real life implication of financial disorder and growing imbalances. Next to that, the developments from a banking crisis turning into a sovereign debt crisis brought Eurozone financial crisis management on the agenda, resulting in the construction of the Troika and supply-side economic adjustment programs for the PIGS. This paper uncovers that financial crisis, financial crisis management and risen NEET rates have been occurring hand in hand. Moreover, it examines the interaction between the demand-led and debt financed economies of the PIGS with Troika based financial crisis management. Thereby, it uncovers the fact the Eurozone, misses the tools and the political willingness of a fiscal union, in order to address its shortcomings sufficiently. The vulnerability of NEET rates of young adults in the PIGS countries underline these shortcomings in terms of low financial stability, a lack of coordination which would be possible in a fiscal union and of a core-periphery conflict enhancing political economy.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics
Programme:European Studies BSc (56627)
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