The French and Austrian leaders have called for a percentage of the FTT to help establish a "fund for education" within the EU budget.

Welcoming the call, PES President Sergei Stanishev stated that; “Today’s declaration of support for a European Youth Guarantee, by President Hollande and Chancellor Faymann, is a great advance for Europe’s youth. It shows that the commitment of the Party of European Socialists (PES), PES Women and ECOSY to helping young people overcome the scourge of unemployment is at the highest level of importance”.

Today’s announcement is another success for the PES campaign for a European Youth Guarantee, and follows on from the recent commitment by Irish Social Protection Minister, Joan Burton, to make the establishment of a European Youth Guarantee a priority when the Irish Government takes up the EU Presidency next year.