Luxemburg Prime minister speaks on the occasion

Luxemburg Prime Minister Jean-Claude Juncker emphasized in his national holiday speech social and economic situation in the country. «The situation in the Euro zone calmed down in comparison with one year ago, but there are risks of rollback. The Euro zone countries are in recession. But Luxemburg prospects for growth aren’t so good too. Unemployment is rising. Purchase power, if we see over last several years, seems stable. But our material ambitions are faced with limitations», said the Prime Minister.

Moreover Luxemburg financial policy stumbles over «strong barriers» which cannot be overcome by a simple «mouse click». Jean-Claude Juncker said: «We have to save and consolidate to be more reassuring. But not so that affects the economic growth and the unemployment rate».

Luxemburg will change over the coming years. «We expect a big change. This is especially true for our financial sector which is facing new challenges with passage to the automatic exchange of banking information. We will overcome these challenges, but it will require bigger efforts. It will not be easy. It will require ingenuity and competence», said the Prime Minister. He stated that the government will also have to roll up its sleeves and to remain vigilant in the future negotiations with the EU.

Ingenuity and competence will also be required to reduce unemployment among youth, convinced Jean-Claude Juncker. «It is unacceptable that the younger generation loss hope and pleasure to life because we offer them no chance neither perspective», said the Prime Minister. The government, the parliament and other social partners must «deal with this serious problem».