"If U.S. welfare standards were introduced in Europe, "we would have revolution, not tomorrow, but [View all]

[midnight]

on the very same day," Schaeuble told a conference in Paris." They know austerity is a failure...

"Europe must not drop its welfare model in favor of US standards or it will spark a revolution "not tomorrow but the same day," Germany's Finance Minister warned on Tuesday.

Speaking at a conference in Paris, Wolfgang Schäuble was joined by other German, French and Italian ministers in issuing warning calls over the soaring unemployment plaguing nearly six million European youths, and that threatens an "entire generation of people" and risks losing "the battle for Europe's unity."

Warning of "catastrophe," Schäuble said, "We need to be more successful in our fight against youth unemployment; otherwise, we will lose the battle for Europe's unity."

Reuters reports:

While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europe's welfare model.

If U.S. welfare standards were introduced in Europe, "we would have revolution, not tomorrow, but on the very same day," Schaeuble told a conference in Paris."


http://www.commondreams.org/headline/2013/05/29-6