ILO gives cautious backing to €315 billion eurozone jobs plan

A €315 billion investment plan proposed by European Commission president Jean-Claude Juncker could generate more than 2.1 million jobs, the International Labour Organization (ILO) believes.

The UN organisation warns however that if the cash isn't invested where it's needed most it could only create 400,000 eurozone jobs by 2018.

ILO economist Raymond Torres Key says the success of the EC's fiscal jab depends on it reaching small business that are clamouring for credit, as well as helping the long-term unemployed get back to work.

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Source & Copyright: ILO/UN Radio