Scholz Proposes Europe-Wide Unemployment Reinsurance: Spiegel

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Scholz Proposes Europe-Wide Unemployment Reinsurance: Spiegel

German Finance Minister Olaf Scholz proposes to add a Europe-wide reinsurance to the country-by-country system of unemployment benefits, Der Spiegel reports, citing an interview.

  • A country facing a strain due to high levels of joblessness could take out a credit from the reinsurance system, to be repaid when the crisis is past
  • Says EU should move forward with a tax on financial transactions, which could be a first step toward a federal tax system at the European level
  • Believes the new Italian govt will behave according to European norms
  • Scholz Says Europe Should Reduce Bad Loans With Economy Strong
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