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Europe's governments are running out of options | World news | The Guardian

For the governments of Europe in the midst of the EU's worst-ever crisis, it is getting increasingly difficult to reconcile internationally ordained austerity packages with popular acquiescence in spending cuts, job losses and slashed budgets.

Whether using the euro or not, governments from the Baltic to the Balkans are struggling to stay in office while implementing the savage savings programmes dictated by technocrats from Brussels, Washington and Frankfurt.

The Romanian government's fall on Monday after weeks of civil unrest in Bucharest is but the latest example. In Greece, another uneasy coalition may be falling apart as it balks at meeting the severe terms of the troika of the European commission, the European Central Bank and the International Monetary Fund (IMF) needed to secure a second €130bn (£108bn) bailout in time to redeem a large tranche of its debt next month.

Athens will again be seething with rage on Tuesday as two of the biggest unions stage a 24-hour general strike. Trapped between the demands of their constituency and the dictates of international creditors, governments and political leaders all across Europe are running out of options.

by Nomad (Bjinse) on Mon Feb 6th, 2012 at 03:07:42 PM EST
[ Parent ]
...governments and political leaders all across Europe are running out of options.

Baloney. There are plenty of options. They could raise tax rates, or start collecting the taxes already due, or change the things they tax. They could move responsibility for social welfare programs to a federal body where the money is controlled. They could tell the banks to take a hike. They could tell the people to take a hike.

What they are running out of is options that will allow the currently-in-power to retain their power and their heads.

by asdf on Tue Feb 7th, 2012 at 12:15:44 PM EST
[ Parent ]

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