To keep its budget under control following the financial crisis, Denmark in June slashed its benefits system by decreasing its unemployment payments to two years instead of four.

    “The cold fact is that the longer you are out of a job, the more difficult it is to get a job,” said Claus Hjort Frederiksen, the Danish finance minister, as quoted by The New York Times. “Four years of unemployment is a luxury we can no longer allow ourselves.”

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.