Germany is banking on bilateral deals to fight record youth unemployment in the eurozone, agreeing to cooperate with several countries to bypass pan-European bureaucracy.
Berlin is about to announce a joint plan with Paris to address unemployment, following a deal announced with Spain last month to channel money from private investors into credit-starved small and medium-sized business.
Economists and German opposition politicians said that while the job-creating efforts were going in the right direction, they should have been implemented alongside the austerity measures. "The finance minister's desperate attempts to rescue the German image on the Iberian peninsula come too late", said Carsten Schneider, budget policy expert for the opposition Social Democrats. "The efforts for growth and employment should have been made at the beginning of the adjustment program, not the end."
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