Americans should pay close attention to what is going on in Europe, because this is what it looks like when a debt party ends. Most of the nations in the eurozone have just started implementing austerity, and yet unemployment in the eurozone is already the highest it has been since the euro was introduced.
Post Tagged with: "European fiscal crisis"
April 13, 2012 13:42
27 Statistics About The European Economic Crisis That Are Almost Too Crazy To Believe
April 2, 2012 05:00
Eurozone in recession – unemployment hits new high
“It looks odds-on that eurozone GDP contracted again in the first quarter of 2012, thereby moving into recession,” said Howard Archer, chief European economist at IHS Global Insight. – BBC News
March 26, 2012 04:53
Spain could reignite the European debt crisis
The euro crisis has eased after the European Central Bank last month boosted liquidity through three-year loans to banks, while European Union leaders this month sealed a second Greek bailout package. – Bloomberg.com
March 17, 2012 10:20
Spain Will Implode – It’s a Wonder it Hasn’t Already
Not only are published GDP figures a lie, so are published debt figures. The result is a complete farce in debt-to-GDP accounting. – Mike “Mish” Shedlock
March 2, 2012 06:25
The American Left’s European Nightmare
Social Democracy’s goal (to which much of Europe’s right also subscribes) was to use the state to realize as much economic security and equality as possible, without resorting to the outright collectivization pursued by the comrades in the East. In policy-terms, that meant extensive regulation, legal privileges for trade unions, “free” healthcare, subsidies and special breaks for politically-connected businesses, ever-growing social security programs, and legions of national and EU public sector workers to “manage” the regulatory-welfare state — all of which was presided over by an increasingly-inbred European political class (Europe’s real “1 percent”) with little-to-no experience of the private sector. – American Spectator
February 21, 2012 06:55
Leaked Memo Blows The Lid Off Of The Entire Greek Bailout
Again, basically what it shows is that European leaders can’t deny what everyone sees as obvious: That everything undertaken so far is destroying the Greek economy, and that further reforms will only make it worse. – Business Insider
February 13, 2012 06:39
Greece MPs pass austerity plan amid violent protests
Tens of thousands protested in Athens, where there were widespread clashes and buildings were set on fire. Violent protests were reported in cities across the country. – BBC News
January 24, 2012 06:43
IMF Warns of Global Depression If Governments Don’t Pay Up
She never mentioned Germany and the US by name, but those were her prime targets. “It is about avoiding a 1930s moment,” she said at the German Council of Foreign Affairs in Berlin, “a moment, ultimately, leading to a downward spiral that could engulf the entire world.” – Testosterone Pit
January 11, 2012 09:11
Greek Crisis Has Pharmacists Pleading for Aspirin; Bailout Money Used for Military Spending
The Greek economy is now totally and completely dysfunctional. The government has resorted to price controls on goods to contain costs. However, price controls do nothing but cause shortages. – Mish Shedlock
January 9, 2012 08:42
A Fed Bailout for Europe
[T]here is a Fed-financed bailout of European banks in progress. The Fed is implementing it through currency swaps because swaps obscure the nature of the transaction, which is in reality a loan. (The Greek government used currency swaps to hide the size of its fiscal deficits.)
