Tuesday, April 20, 2010

Economy News: EU will pay your Holiday, after now are part of 'Human Rights'

Tired after a hard year working? If you're European you can have your holidays paid by EU.

I was checking blogosphere, looking for news of the economy and finance world, when I found MISH'S Global Economic Trend Analysis blog and found that European Union will subside a percentage of holidays.

The idea, suggested by Antonio Tajani (appointed by Silvio Berlusconi, the Italian PM), is that the days when holidays was a luxury, are no longer. 'Holidays are a Human Right', said Brussels. And according with that, they'll be subsided and our Nordic fellows will came to our Mediterranean seas in summer, and we'll enjoy of a snowed Iceland or a Finnish sauna (If Eyjafjallajökull allows it)

Shocked as almost everyone reading this, I decided to do a little research about the subject. As it turns out, this programme (started by Spain, years ago) will be piloted until 2013 and then, will be in full operation. Will be aimed to pensioners and anyone over 65 years, young people (between 18-25 yr), families facing 'difficult social, financial or personal' circumstances and disabled people (accompanied by one person).

Northern Europeans will be encouraged to visit southern Europe and vice versa. How participants, and how much have not yet decided, but it's expected that the trip will be subsidized about 30% of the cost.

As I stated before, this measure isn't a new idea, as Spain subsidized European residents over 55 years old, to power the winter off-season (the weaker one). Spain calculated that for every €1 spent in help, gained €1'6 fro it's resorts.

Will this be an bottomless well for our money, or a way to decrease unemployment and increase tourism? Only time will say. The economist opinion, today, isn't unanimous in one way or another, but right now there isn't room for failed experiments.

Read more: Times Online Share

2 comentaris:

Tommy said...

Are you serious? That's insane, can't people save money for their vacations like normal people? The EU already requires companies to allow 6 week holidays, but now this? The EU is going to bankrupt itself if it doesn't clean up it's financial house before spending more money!

Economy Lessons Blog said...

Yes, I'm serious. As stupid as sounds, they've a point: Financing, let's say, 30% of the holidays to people who'll never travel, they're taxing 16 of the trip (lose 30% , earn 16%), plus, earning taxes of all the money they spent at the trip.

Sounds fine to me, but the problem is that they're subsiding poor people who hardly they'll spent enough money to make a profit...

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