itsnotoutthere Posted February 27, 2013 #1 Share Posted February 27, 2013 Fears that deadlock will lengthen Italy's two-year recession and spill over into rest of the eurozone hit markets across Europe Three years of German-led austerity and budget cuts aimed at saving the euro and retooling the European economy was left facing one of its biggest challenges as Italian voters' rejection of spending cuts and tax rises opened up a stark new fissure in European politics. Despite the withering popular verdict on cuts and taxes, Brussels and Berlin insisted the austerity programme had to be continued in Italy. France and others seized on the outcome for their own purposes, arguing for a relaxation of spending cuts and greater emphasis on policies to boost growth and job creation. Angela Merkel, bidding for a third term as German chancellor in September, has been banking on a period of eurozone calm in the run-up to her election, but Italian voters have wrecked that calculation. Link: http://www.guardian.co.uk/world/2013/feb/26/italy-election-austerity-eurozone-turmoil Link to comment Share on other sites More sharing options...
ExpandMyMind Posted February 27, 2013 #2 Share Posted February 27, 2013 (edited) The most surprising thing about this is that, apparently, itsnotoutthere has strayed onto the Guardian website Edited February 27, 2013 by ExpandMyMind 1 Link to comment Share on other sites More sharing options...
Space Commander Travis Posted February 27, 2013 #3 Share Posted February 27, 2013 (edited) Where's Il Duce when they need him? * Actually, note this again: Despite the withering popular verdict on cuts and taxes, Brussels and Berlin insisted the austerity programme had to be continued in Italy Yes, and the Empire never dictates what other countries should do in order to keep the Imperial Currency afloat, do they? I hope the Rapid Rebuttal force will be swift to refute that muth. Edited February 27, 2013 by Lord Vetinari Link to comment Share on other sites More sharing options...
itsnotoutthere Posted February 27, 2013 Author #4 Share Posted February 27, 2013 The most surprising thing about this is that, apparently, itsnotoutthere has strayed onto the Guardian website I know, i'm not proud. 2 Link to comment Share on other sites More sharing options...
spartan max2 Posted February 27, 2013 #5 Share Posted February 27, 2013 can someone explain the austerity programme to me please 1 Link to comment Share on other sites More sharing options...
TheLastLazyGun Posted February 27, 2013 #6 Share Posted February 27, 2013 (edited) Mr Clegg's voting system and the comedian who's exposed what a joke the euro is: http://www.dailymail.co.uk/news/article-2285027/Mr-Cleggs-voting-comedian-whos-exposed-joke-euro-is.html#ixzz2M7I0xX1R Edited February 27, 2013 by TheLastLazyGun Link to comment Share on other sites More sharing options...
Frank Merton Posted February 27, 2013 #7 Share Posted February 27, 2013 can someone explain the austerity programme to me please I wish I could but it makes no sense to me. You have a depression in your country, which means tax revenues go down and spending increases, so you end up with a budget deficit. Now, to "solve" this, you are supposed to increase taxes and cut spending, making your nations's depression even worse and your deficit even worse. 1 Link to comment Share on other sites More sharing options...
stevewinn Posted February 27, 2013 #8 Share Posted February 27, 2013 The most surprising thing about this is that, apparently, itsnotoutthere has strayed onto the Guardian website That made me laugh mate, 10/10. I know, i'm not proud. we all have moments of madness, consult a Doctor if in the coming days you find yourself wearing sandals and eating lentils. As for Italy, it was always expected, remember how prime minister Mario Monti got the job in the first place, installed by the EU. just like the government in Greece. 1 Link to comment Share on other sites More sharing options...
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