Tag Archives: Austerity

Popularity of French President Francois Hollande in Steep Decline

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“Since taking office 10 months ago, Hollande has experienced the fastest drop in popularity ever seen in French presidential politics. In June of last year, those who said they had confidence in him numbered between 51 and 63 percent, depending on the polling institute. That number is now 30 to 37 percent, nearing the lowest approval rating of any French president on record: Nicolas Sarkozy in May 2011, at 20 percent.  Hollande is struggling to find convicing counterarguments as unemployment has risen to 11 percent, economic data looks more dismal by the week, industrial output is taking a nosedive and a recovery is nowhere to be seen.”

http://www.spiegel.de/international/europe/popularity-of-french-president-francois-hollande-in-steep-decline-a-888568.html

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New anti-euro party forms in Germany

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“A new party in favour of returning to the Deutsche Mark is taking shape in Germany, hoping to attract voters disillusioned by the political establishment.  The new ‘Alternative for Germany’ party is hoping to capitalise on a growing resentment about the euro-crisis and what Germans perceive as costly bailouts for profligate southern countries. Backed by Hans-Olaf Henkel, a prominent eurosceptic and former head of the German Industry Federation (BDI), the new party is expected to have its official launch on 14 April in Berlin.  A survey published Monday by TNS-Emnid showed that 26 percent of Germans would consider backing a party that campaigns for getting rid of the euro.”

http://euobserver.com/political/119366

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Greece’s Futile Austerity

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“The Greek situation is beyond wretched. Top earners are being pursued by helicopters and spied on by satellites over non-payment of taxes; there are regular riots in the streets and, as in Argentina a decade ago, middle-class people have been reduced in some cases to picking through garbage bins to survive.  The suffering has been needless. The result is not going to be of benefit to anyone except perhaps some of Europe’s largest banks, and they are getting plenty of help already.  There is little money in Greece but there is plenty of anger. And Prime Minister Samaras, taking note of it, announces there will be no further austerity measures.”

http://www.thedailybell.com/28815/Greeces-Futile-Austerity

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Japanese Solution for Collapsing Portugal?

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“The Portuguese population is getting older as it shrinks. The presumptive obligations of the Portuguese government to take care of its aging population will be increasingly tested within the current environment.  Spain, Greece, Ireland, Portugal – gradually and in various ways the Southern half of Europe is collapsing into varying stages of violence and apathy. But if the Portuguese solution takes hold, then the damage that has been done in the past five years may extend a generation or more.  Europe may gain a euro but it will lose decades of vitality and innovation as its younger generations emigrate to more hospitable regions.”

http://www.thedailybell.com/28813/Japanese-Solution-for-Collapsing-Portugal

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Thousands rally against the Troika in Brussels

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“Around 1,500 protesters rallied at the Parc du Cinquantenaire in Brussels, according to police on the scene. Although more were seen gathering close to the European Council Summit at the Place Shuman. There have reportedly been 25 arrests by police.  The police banned protesters from marching past the banks and the seats of government in Brussels, to the dismay of many of the protesters. 100 of the protesters occupied the Directorate General for Economic and Financial Affairs in Brussels (DG ECFIN).  The DG ECFIN provides most of the staff whose job it is to go to indebted European countries to impose austerity measures regardless of public opinion.”

http://rt.com/news/brussels-clashes-anti-austerity-269/

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Made Poor by the Crisis: Millions of Europeans Require Red Cross Food Aid

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“Needy families and individuals in the European Union are becoming increasingly reliant on charity organizations like the Red Cross for basic needs like food, water and shelter.  Two-thirds of national Red Cross societies within the European Union have begun distributing food aid, according to the head of the aid groups’ international organization — a sign that the economic crisis in Europe is having an alarming effect on poverty.  Yves Daccord, Director-General of the International Committee of the Red Cross, said on a visit to New Delhi on Monday that the scope of food distribution had not been at its current level since the end of World War II.”

http://www.spiegel.de/international/europe/food-distribution-at-european-red-cross-at-greatest-level-since-war-a-888182.html

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‘Troika’ offers Cyprus bailout in exchange for tax hikes

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“Cyprus needs up to 17 billion euros – almost as much as its annual gross domestic product – in emergency loans, mostly to recapitalise its oversized banking sector, hit by a Greek debt restructuring, but also to service debt and government expenses.  The capital gains tax could be introduced only temporarily, for three years, and provide the government with an extra revenue of 200-300 million euros.  The nominal corporate tax, which now stands at 10 percent, could be raised to 12.5 percent.  The introduction of the financial transaction tax would be set at 0.01 percent of the value of trades for derivatives and 0.1 percent for stocks and bonds.”

http://uk.reuters.com/article/2013/03/07/uk-eurozone-cyprus-bailout-idUKBRE9261FZ20130307

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Italian Elections: Europe’s Lost Generation Finds Its Voice

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“They are the latest example of an uprising of the lost generation, that mass of people on Europe’s periphery who are under the age of 40, desperate, unemployed and who have very little left to lose. The public outrage in Europe came to a boil in tent camps in Madrid’s Puerta del Sol. It inspired the Occupy Wall Street activists. And it continued in Greece, where youth unemployment has reached 59.4 percent, and where there are no jobs and no economic recovery.  In the eyes of many, the power of the politicians only serves their own interests.”

http://www.spiegel.de/international/europe/beppe-grillo-taps-into-frustrations-of-european-lost-generation-a-886715.html

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Ireland is the poster-child of EMU cruelty and folly

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“It has stabilized the colossal debts left from taking on the gambling losses of Anglo Irish Bank at EU behest, that is to say from shielding German, British, Dutch and Belgian lenders from systemic contagion at a critical moment.  Deo volente, it will be the first of the EMU victim states to escape control of the EU-IMF Troika, though it will answer to inspectors for another 20 years and the yet unborn will be paying off the €67bn of Troika indenture until 2042.  A mass exodus of 40,000 to 50,000 each year to the four corners of the Irish Diaspora have kept unemployment down to 14.1pc,  ‘What we need here in Ireland is a good dose of inflation,’ confided one official.”

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9906230/Brave-Ireland-is-the-poster-child-of-EMU-cruelty-and-folly.html

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Hundreds of thousands march against austerity in Portugal

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“Hundreds of thousands of people took to the streets of Lisbon and other Portuguese cities Saturday to protest against the government’s austerity measures.  The rallies were organised by a non-political movement which claimed 500,000 marched in the country’s capital and another 400,000 in the main northern city of Porto.   But the mood of the crowd was clearly political, calling for new elections with banners declaring ‘Portugal to the polls!’ and ‘If you fall asleep in a democracy, you wake up in a dictatorship’.  Another banner showed a picture of centre-right Prime Minister Pedro Passos Coelho with the caption: ‘Today I am in the street, tomorrow it will be you.'”

http://www.france24.com/en/20130302-hundreds-thousands-march-against-austerity-portugal-0

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