At their recent informal Employment Council meeting in Barcelona, Ministers expressed grave concern over unemployment rates in the EU. The European Commissioner for Employment, Vladimir Špidla, confirmed that "the Spanish Presidency is planning a final proposal" for new micro-loans, which will be presented shortly.

The idea of these micro-loans is to allocate around €100 million for granting small loans to people in difficulties, such as young people and the long-term unemployed, according to social rather than financial criteria.

Commissioner Špidla, who attended his last Informal Council as Commissioner, warned that "the months to come will be hard, as there is always a period of time between economic recovery and the recovery of the labour market".

The proposal is expected shortly.