Draghi: Youth joblessness poses a risk to democracy

Europe needs to tackle high youth unemployment to safeguard democracy, public trust and growth, European Central Bank President Mario Draghi said in Dublin Friday.

With almost a fifth of young people out of work, Europe's ability to innovate may suffer, its cohesion is put at risk and the trust in public institutions could be undermined, Draghi said before a town hall-style meeting with university students. The EU must foster competition and focus on protecting people rather than jobs if they become obsolete.

It must also take a bigger role in education that prepares workers for the economic shifts that can displace entire industries, he said. "We have seen how in several countries the weight of the crisis has fallen disproportionately on the young people, leaving a legacy of failed hopes, anger and ultimately mistrust in the values of our society and in the...