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The Crisis In Europe. A Recap

June 1 2010 at 8:25 PM
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The truth is that almost everyone is expecting the next couple of years to be very tough economically all across Europe.
The truth is that governments across the eurozone have accumulated gigantic piles of debt that simply are not sustainable. Prior to the implementation of the euro, these European governments often "printed" their way out of messes like this, but now they can't do that. Now they either have to dramatically cut government expenses or they have to default. But the austerity measures that the IMF and the ECB (European Central Bank) are pressuring these European governments to adopt are likely to have some very painful side effects. Not only will these austerity measures cause a significant slowdown in economic growth, they are also likely to cause the same kinds of protests, strikes and riots that we saw in Greece to erupt all over Europe.
Details in link:
http://theeconomiccollapseblog.com/archives/europes-coming-summer-of-discontent


 
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