Europeans Take to the Streets to Protest Spending Cuts
On Wednesday, tens of thousands of people in Spain, Italy, Greece and other European nations registered their disapproval of their governments’ moves to make them bear the brunt of the financial shenanigans that sent the global economy into a downward spiral two years ago. –KA
Trade unions say EU workers may become the biggest victims of a financial crisis set off by bankers and traders.
Many governments across the 27-member bloc have imposed punishing cuts in wages, pensions and employment to deal with spiralling debts.
In Greece and the Irish Republic, unemployment figures are at their highest level in 10 years, while Spain’s unemployment has doubled in just three years.
In Britain the government is planning to slash spending by up to 25% in some areas, while France has seen angry protests against a planned increase in the minimum retirement age.