Filed under European Crisis

EU DEBT CRISIS | …just a commentary!

By deciding to pump yet billions more into Greece, the EU is merely continuing a strategy that could have fateful consequences. Europe needs a radical change of course. Enough with bailouts! It’s time to reinstate national autonomy — and responsibility — for determining financial policies and honoring treaties. It’s been over 20 years since then-German … Continue reading

EU COUNCIL | Anti-austerity front grows in Europe

The European Union Council, which begins on Thursday, is scheduled to sign the new fiscal compact. But at the same time, a dozen countries, led by Italy, are contesting the austerity policies imposed by “Merkozy” and calling for an economic stimulus package. French President Nicolas Sarkozy has given the pact minimal support, out of consideration … Continue reading

EU SUMMIT | GROWTH vs AUSTERITY

Striking the balance between budget austerity and reviving lost growth was the focus as EU leaders met in Brussels earlier for the start of a two day summit. Despite more grim news on the job front – with unemployment reaching a record high in the eurozone – Germany’s Chancellor insisted things were back on track, … Continue reading

Spain | ‘Lost Generation’ threatens social fabric

MADRID (AP) — Daniel Lorente has worked construction, flipped burgers at McDonald’s, been a camp counselor, telemarketing representative and doorman. But Lorente’s part-time jobs never lasted more than seven months: He was laid off from each one as Spain’s economic gloom deepened into a historic crisis. Now the 21-year-old is staring into a dead-end future. “How am I … Continue reading

EU CRISIS | No More Solidarity

Some words are the property of continental Europeans. You do not hear many Brits or Americans talking about “solidarity”. The expression belongs to the soggy (to Anglo-Saxon minds) consensualism of social market capitalism and to prophets of European unity. What’s happened lately is that solidarity has dissolved. This explains why the euro, and the European Union, are … Continue reading