Global Economic Crises
The current economic crisis has affected many countries in Europe as well as many countries in the world over. Micro credit institutions which have been established in Europe as one of the ways of alleviating poverty among the unemployed and the low employed youths in Europe have also been affected significantly. First, Europe member states have failed to honour their pledges towards the consolidated fund aimed at assisting the micro-credit enterprises. In this respect, many groups and individuals have lacked funds to start their own small businesses as originally intended. Hence, the current economic crisis has continued to cause a rise in unemployment as well as underemployment among the vast majority of people in Europe.