Angela Merkel, the German Chancellor who is often compared to the conservative British Prime Minister from 1979 to 1990 Margaret Thatcher, has been under scrutiny lately because of her refusal to relax the economic austerity imposed on the European Union. During a depression that has affected most countries in the world, including ours but more severely the European Union, Merkel has chosen the path of financial austerity. We can say that Merkel and her party, the Christian Democratic Union (CDU), are the European version of the Tea Party that keeps demanding reducing or eliminating costs at all cost, pardon the redundancy, and by the results we can say it’s a path that has miserably failed.
One can argue that Merkel might be doing what is best for Germany, after all Germany is not suffering as hard as Spain, Greece or Italy. Merkel has refused to bail Greece or even readjust their loan’s interest rates, leaving Greece in complete chaos and in a state of desperation that will probably cause their secession from the Union following Iceland’s path since there is no way for them to pay what they owe. Spain will soon follow, the unemployment rate in Spain is almost 25% and if things were bad before, with this austerity the Iberian Peninsula is not likely to improve their chances of succeeding. It is easy for Merkel to demand austerity; Germany’s unemployment rate is not among the highest in the European Union. Following is the latest unemployment rates by country, from the highest to the lowest rate:
Spain
|
24.44
|
Greece
|
21.7
|
Portugal
|
14.9
|
Ireland
|
14.3
|
Slovakia
|
13.7
|
Slovenia
|
12.4
|
Estonia
|
11.5
|
Italy
|
9.8
|
France
|
9.8
|
Finland
|
8.5
|
Germany
|
7.4
|
Belgium
|
7.2
|
Luxembourg
|
6.0
|
Netherlands
|
5.9
|
Austria
|
4.3
|
As we can see above, Germany is not suffering as hard as the other countries in the European Union but Merkel’s refusal to assist or restructure the debts of these countries is taking these countries in a downward spiral from which they might not recover, at least not any time soon. Perhaps these countries should declare themselves bankrupted after all, their working force is diminishing by the day, their debts continue to increase, their credit ratings are dropping and no money is fluctuating to revitalize the economy. It is not difficult to realize that unless something it’s done to stimulate the economy of these countries (Estonia, Slovenia, Slovakia, Ireland, Portugal, Greece and Spain) their only alternative will be to seceded from the Union and declare financial bankruptcy.
This austerity plan is the one that the GOP and Teapers advocate for in this country, and that so many of our citizens applaud... Is anyone in this country paying attention to what is happening in Europe? Has anyone here noticed the fiasco this austerity plan is?
The GOP has been screwing up America for the last decade and if they get elected this coming elections we might face the same scenario we are seeing in Europe where Angela Merkel might not be hurting Germany too bad, but she surely is fucking Europe and unless stopped, the World.
This austerity plan is the one that the GOP and Teapers advocate for in this country, and that so many of our citizens applaud... Is anyone in this country paying attention to what is happening in Europe? Has anyone here noticed the fiasco this austerity plan is?
The GOP has been screwing up America for the last decade and if they get elected this coming elections we might face the same scenario we are seeing in Europe where Angela Merkel might not be hurting Germany too bad, but she surely is fucking Europe and unless stopped, the World.