It’s shaping up to be another busy week, so here’s a quick update on the European Debt Crisis front:
EU Debt burden hits an all-time high.
Greece shuts down its bloated, money losing ERT public television/radio network. “Problems with Greek democracy are not the reason that ERT was shut down. ERT was an extravagant public company. Many, though not all, employees were hired under suspicious conditions, due to favoritism and nepotism, and receiveddisproportionately large wages (8000 Euros per month through the financial crisis and 13000 Euros per month before).”
Taki (who is Greek) offers some pungent assessments of his home country’s continual crisis.
In Europe, the law is seen is “an obstacle rather than a foundation.”
Spain steals from tomorrow’s retirees to pay for today’s retirees.
Portugal refrains from blowing up for a little while longer.
Germany’s finance minister tours his vassal state.
Don’t expect the EuroZone to explode before German elections on September 22. Plus calls for an “EMU Truth and Reconciliation Commission.”
First review of UK’s relationship with EU comes to the conclusion that everything is just hunky dory.
Tags: Budget, Economics, Euro, Germany, Greece, PIIGS, Portugal, waste, Welfare State
This entry was posted on Monday, July 22nd, 2013 at 6:55 PM and is filed under Economics, Waste and Fraud, Welfare State. You can follow any responses to this entry through the RSS 2.0 feed.
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