EU leaders have reached a deal on the 2014-2020 budgets at the EU summit in Brussels.

 

　　The deal is designed to speed up spending on youth employment.

 

　　A total of 26-million people on the continent are unemployed.

 

　　Nearly a quarter of young people aged 18 to 25 in the EU have no job.

 

　　In Greece and Spain it is more than half.

 

　　Tens of thousands of young Europeans are now on the move in search of work.

 

　　It is estimated more than 100-thousand Spanish graduates have already left their country.

 

　　The unemployment level in Spain is heading towards 28-percent.

 

　　Now for more on this situation, we are joined live on the line with Mike Bastin, Visiting Professor at China's University of International Business and Economics.