This figure is far from impressive, especially considering that the euro area is in the early phase of a recovery, after the second recession in 2012 and 2013. On the other hand, the unemployment rate, albeit falling, still remains above 10%, amid a continuous increase in the participation rate in the labour force since the crisis.
Mr Eichel, I would like to offer you and the federal government my explicit support in your efforts to adhere to the consolidation course by taking determined steps in that direction. The EU’s Stability and Growth Pact should serve as regulatory guide here.