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Economy
In reply to the discussion: STOCK MARKET WATCH -- Thursday, 26 April 2012 [View all]xchrom
(108,903 posts)24. 'Europe Could Economize Itself to Death'
http://www.spiegel.de/international/0,1518,829936,00.html
Leaders across Europe continued to struggle Thursday with backlash against the largely German-driven austerity measures imposed as a result of the ongoing euro zone debt crisis.
In the Netherlands, where the ruling government coalition collapsed last weekend over failure to reach a deal on the country's budget, Finance Minister Jan Kees de Jager told reporters that he had constructive talks with different political factions. "I cannot say there is the prospect of an agreement," De Jager told reporters on Thursday. "But I see reason to continue talks."
Government instability in the Netherlands has translated into shaky markets this week, and further signals indicated a growing level of popular resistance to austerity measures as a solution for the debt crisis. Large-scale protests over the financial crisis have been staged recently across Europe, including in the Czech Republic, where 100,000 people took to the streets in Prague over the weekend to oppose government reforms and cuts.
On Wednesday, European Central Bank (ECB) head Mario Draghi made headlines by calling for a "growth pact" to help Europe out of the financial crisis. French Presidential candidate Francois Hollande, who is leading in the polls in advance of his country's May 6 runoff election, jumped on the comments. Hollande has proposed renegotiating the euro zone's fiscal pact to add provisions for stimulating growth.
Leaders across Europe continued to struggle Thursday with backlash against the largely German-driven austerity measures imposed as a result of the ongoing euro zone debt crisis.
In the Netherlands, where the ruling government coalition collapsed last weekend over failure to reach a deal on the country's budget, Finance Minister Jan Kees de Jager told reporters that he had constructive talks with different political factions. "I cannot say there is the prospect of an agreement," De Jager told reporters on Thursday. "But I see reason to continue talks."
Government instability in the Netherlands has translated into shaky markets this week, and further signals indicated a growing level of popular resistance to austerity measures as a solution for the debt crisis. Large-scale protests over the financial crisis have been staged recently across Europe, including in the Czech Republic, where 100,000 people took to the streets in Prague over the weekend to oppose government reforms and cuts.
On Wednesday, European Central Bank (ECB) head Mario Draghi made headlines by calling for a "growth pact" to help Europe out of the financial crisis. French Presidential candidate Francois Hollande, who is leading in the polls in advance of his country's May 6 runoff election, jumped on the comments. Hollande has proposed renegotiating the euro zone's fiscal pact to add provisions for stimulating growth.
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"Splitting the Difference Between Myth and Reality Is Not Good Economics"
bread_and_roses
Apr 2012
#13