Europeans Protest in Mass Over Austerity Measures

Wednesday, September 29, 2010

From Madrid to Brussels to Dublin to Paris, workers all over the European Union are taking to the streets today in a mass day of action. Hundreds of thousands of European workers are protesting a wide range of austerity measures proposed by their own governments—like spending cuts in Britain and increasing the retirement age in France. The BBC's Nick Childs is in the thick of the protests in Brussels. He reports on what may be the beginning of Europe's winter of discontent.

Guests:

Nick Childs

Produced by:

Kate McGough

Comments [2]

European citizens organized angry demonstrations against austerity measures as governments struggle to recover from the European debt crisis by cutting social services and increasing taxes. At issue for Europeans is the belief that the austerity actions impact the rank and file while billions were spent to prop up failing banks. As the demonstrations raged, a United States government representative seemed to side with the demonstrators. The representative, a top U.S. Treasury official, said it was too early within the recovery for European governing bodies to abandon stimulus and embrace austerity. Maybe Europe should look into some personal loans to help cut their crisis.

Oct. 06 2010 01:18 AM

Austerity measures are typically taken if there is a perceived threat that the government cannot honor its debt liabilities. Such a situation may arise if the government has borrowed in foreign currencies which they have no right to issue or they have been legally forbidden from issuing their own currency. European Union austerity measures will most likely cause a drop in the productivity as a whole. Raising taxes and cutting government spending will increase unemployment which may then be the cause of economic downfall. Economic growth should be its priority and austerity should be set aside.

Oct. 05 2010 02:34 AM

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