EU leaders agree to tackle high youth unemployment

European leaders agreed on Tuesday to carry out a scheme aimed at tackling the continent's youth unemployment. "The calendar is the next two years. The objective is to implement the 'Youth Guarantee' which allows every young person to have a job," French President Francois Hollande told reporters after hosting a summit on a solution to high youth unemployment. The youth unemployment rate in European Union (EU) countries stood at 23 percent in 2012, with some six million young people under 25 years old unemployed. The meeting was attended by heads of state or government from 24 of the EU's 28 member states, including German Chancellor Angela Merkel, who hosted the bloc'c first summit on youth unemployment in Berlin four months ago. During the summit, European leaders also proposed three priorities to fulfill the "Youth Guarantee" scheme -- training and education, employment guidance, and creating opportunities for young entrepreneurs. Under the "Youth Guarantee" scheme, young people are to be given a job opportunity, further education or training within four months after leaving school. In July, EU member states pledged 24 billion euros (32.3 billion U.S. dollars) to curb high youth unemployment across the continent.