European job market is rigged against younger workers, says Draghi

ECB president laments high levels of youth unemployment and warns near-zero inflation damages Generation Y's prospects

Europe's economies are rigged to protect older workers at the cost of new employees, the president of the European Central Bank has told the Guardian.

Mario Draghi also said "tragic" high levels of youth unemployment had the potential to threaten social harmony in Europe and that rock-bottom inflation was damaging the prospects of Generation Y by redistributing their wealth to older people.

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Youth unemployment is a tragedy and prevents people from playing a full and meaningful part in society

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