04 October 2012 11:27

NICOSIA - Economy Nobel prize winner Christoforos Pissarides will take part in the informal council of EU education ministers scheduled in Nicosia on Thursday and Friday.
Discussions will focus on the central role of education in implementing the Europe 2020 strategy for jobs and growth.
Professor Pissarides will exchange views with delegates on the connection between education and financial performance - an issue highlighted in the OECD`s recent `Education At A Glance` report.
The report showed that a European graduate can expect a net gain of around €140. 000 over his working life and that public long-term benefits from higher education through increased tax payments and other savings are almost three times the size of the public costs.
Current estimates show that the number of jobs requiring higher-level qualifications is set to rise to 35% of all jobs by 2020, but only 26% of the total workforce is currently educated to tertiary level.
EU Commissioner for Education, Culture, Multilingualism and Youth Androulla Vassiliou said in a statement that she was pleased the Cyprus Presidency has put education and growth at the centre of its agenda.
She also sent a message to the EU Finance Ministers and Prime Ministers, saying “think of our young people first when it comes to deciding your priorities in the future EU budget."


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