Killing Europe Cruelly With Economic Austerity

The European Union is embarked on the ruinous path of economic austerity during a recession.    


Across the break are a few highlights from Jeff Madrick's article on the destructive effects of the economic austerity measures implemented in the eurozone.

Quotation for Today

"Never has Europe been so necessary. Never has it been in so much danger."

Nicolas Sarkozy, President of the French Republic

"Eurozone crisis: Talks to save euro begin in Brussels." BBC-UK 8 December, 2011: online edition 

Quotation for Today

"What is going to have people pushing their euro notes around in wheelbarrows, as they famously did their Deutschmark notes in Weimar Germany's hyperinflation, is not, at the moment, inflation – it is a collapse of the eurozone."

Timothy Garton Ash