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marmar

(79,819 posts) Fri Apr 27, 2012, 11:07 AM Apr 2012

Austerity is Killing Europe [View all]

from The Progressive:

Austerity is Killing Europe
By Amitabh Pal, April 26, 2012

The austerity fetish of those making economic decisions is killing Europe’s economy.

The last few days have provided further proof.

“Spain officially slipped back into recession for the second time in three years Monday, after following the German remedy of deep retrenchment in public outlays, joining Italy, Belgium, the Netherlands and the Czech Republic,” the New York Times reported this week.

And more bad news has followed. .................(more)

The complete piece is at: http://www.progressive.org/austerity_is_killing_europe.html

32 replies

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Highlight:

Austerity is Killing Europe [View all] marmar Apr 2012 OP

But Republicans would love to try it here. polichick Apr 2012 #1

It's already going on here. State & local government spending is down 6% since the recession HiPointDem Apr 2012 #8

You're right - and right-wing governors are having a field day! polichick Apr 2012 #10

Well they have no access to money. What else can they do? dkf Apr 2012 #2

Pretty much this 4th law of robotics Apr 2012 #4

The article suggests a few things to do just1voice Apr 2012 #5

If a country is already in trouble with the bond market they have zero chance dkf Apr 2012 #6

There is one country that did just that nadinbrzezinski Apr 2012 #7

Awesome... fascisthunter Apr 2012 #13

Iceland is still on the hook for their banks. dkf Apr 2012 #14

Correct me if I'm wrong. badtoworse Apr 2012 #20

Exactly right. Just as most European countries didn't have a sovereign debt problem Ghost Dog Apr 2012 #25

In retrospect, other countries, such as Ireland, might have done better by letting the banks fail badtoworse Apr 2012 #28

Iceland was never in the Euro muriel_volestrangler Apr 2012 #22

Ironically they are thinking of getting in. dkf Apr 2012 #32

what the heck does the world bank have to do with this? cali Apr 2012 #9

They can start by doing what Iceland did. It's a little late, but it's what they should have done sabrina 1 Apr 2012 #21

Correction: The EURO is killing Europe. Snake Alchemist Apr 2012 #3

Correction: Germany is killing Europe. Germany is the coalition_unwilling Apr 2012 #15

something else is killing Europe also. Racism. nt. nanabugg Apr 2012 #11

The "New Dems" will be telling us how great austerity is fascisthunter Apr 2012 #12

I hate to see this happen. The hardship that was a part of the settlement in the WWI treaty was jwirr Apr 2012 #16

How else do you expect the "limits of growth" to look? bhikkhu Apr 2012 #17

i expect them to look like the ruling class cutting back on their private jet use. not ramping HiPointDem Apr 2012 #18

Inasmuch as the ruling class is the government bhikkhu Apr 2012 #19

It is slowly killing us as well - TBF Apr 2012 #23

Please help me understand how the US could implement EU-style austerity measures. shcrane71 Apr 2012 #24

Here's an example of how austerity HERE is backfiring on Conservatives upi402 Apr 2012 #26

Where the hell are you getting that nonsense from? former9thward Apr 2012 #27

please read the black parts upi402 Apr 2012 #29

Thank you for your patronizing no information reply. former9thward Apr 2012 #30

Yep, time for the Europeans to rise up and get rid of those misguided Cleita Apr 2012 #31