By Robert J. Samuelson – The European “crisis” is back. Actually, it never went away — and won’t for many years. The problems are so deep and pervasive that there is no easy or obvious solution. Government debt and deficits in many countries are not sustainable, but the usual remedies of cutting spending and raising taxes — a.k.a. “austerity” — may make matters worse by deepening already severe recessions. Europe is caught in a trap that promises more political and social unrest.
The wonder is that, for a few months, there was a sense of complacency. more> http://tinyurl.com/bwuunvt
- Europeans choose sides over financial crisis (theneteconomy.wordpress.com)
- An internationalist transitional programme as an answer to the Euro crisis by Dr. Özlem Onaran (prosumerzen.net)
- 27 Statistics About The European Economic Crisis That Are Almost Too Crazy To Believe (theeconomiccollapseblog.com)
- The President Of Iceland Tells Us How He Had The Balls To Stand Up To Britain, Adam Taylor, Business Insider
- Last chance to avoid nasty euro train wreck, Darrell Delamaide, MarketWatch