danspeerin:

Austerity! (you know outside of killing people obvs!)
Nouriel Roubini : eurozone austerity will not fix the problem hedgejournals: Nouriel Roubini Famous Nouriel Roubini says that the absent policies which have to boost growth and the eurozone austerity will make things worse rather than fix the problem. According to Roubini, as he stated at a conference the International Monetary Fund, the peripheral countries in the… Read More: Nouriel Roubini : eurozone austerity will not fix the problem

Nouriel Roubini : eurozone austerity will not fix the problem

hedgejournals:

Nouriel Roubini Famous Nouriel Roubini says that the absent policies which have to boost growth and the eurozone austerity will make things worse rather than fix the problem. According to Roubini, as he stated at a conference the International Monetary Fund, the peripheral countries in the…

Read More: Nouriel Roubini : eurozone austerity will not fix the problem

thegreatshort:


(via Used to Hardship, Latvia Accepts Austerity, and Its Pain Eases - NYTimes.com)
landofmaps:


Factions in the battle for the EU budget [1599x1353]

Next Up For A “Recovering” Europe: A 30-50% Collapse In Wages In Spain, Italy And… France Tyler Durden, zerohedge.com
Several weeks ago Europe officially entered a double dip recession, and based on various secondary economic indicators, even Europe’s primary economic powerhouse, Germany, is on the verge of negative economic growth. The reasons for Europe’s woefu…
“The German paradigm rests on two pillars: competitiveness and balanced budgets. Basically, this is what Germany has done for almost twenty years. The problem is that this is what is known in game theory as non-cooperative behaviour, or as the philosophers say, non-Kantian behaviour, i.e. not generalizable. If the Germans were able to compress wages and practice austerity successfully—at least from a macroeconomic point of view—it is because other countries did not do the same. If this had been the case, that is to say, if all countries had similarly cut consumption—through wage compression—and cut public spending—via the “virtue” budget, the euro area would be in a recession worthy of the ’30s.”

On Europe’s Three Year Insolvency Anniversary - The Definitive Interactive Infographic Tyler Durden, zerohedge.com
Looking back, it seems like only yesterday that the world’s realized, “out of the blue” that Europe was, gasp, insolvent. Alas, as the following terrific “walk through memory lane” interactive infographic from the Guardian reveals, it has now been well over three years and counting, with everything starting with this October 2009 article in the FT, “Greece vows action to cut budget deficit” in which then-PM G-Pap revealed a massive hole in the Greek official economic data and that its budget deficit would be double what was previously forecast. The rest is history, and now Greece is a shell, with unemployment off the charts, its finances and economy in shambles, and the whole country serving as a passthru funding vehicle for Europe to keep its own banks, and the ECB, solvent.