Ireland and is sinking into debt as Spain. Today all Europe pays the consequences. In addition, Portugal is now the next candidate to suffer from getting the continental crisis lasted Soon peace in the eurozone shared by sixteen European countries. After the IMF and the European Central Bank (ECB) to Greece rescued from bankruptcy last May with a loan of 110,000 million euros to three years, under harsh economic and social conditions, European leaders in Brussels were photographed smiling, assuming closed the crisis. The European Union leaders claimed at the time that had been "calm financial markets, these abstract and also powerful global institutions showing daily stand above democratically constituted governments with capacity to make them stagger and speculative sink. only needed, they said then, that European governments disciplined, to implement drastic adjustment plans, with swingeing cuts in public spending and social achievements of the hundreds of millions of citizens. They began the ajustazos everywhere, regardless of whether the current government of this country or that carry the label of conservative, liberal, Labour, socialist or social democrat.
recipes differ little from them all. Economic guidelines in Brussels, where their headquarters to different institutions conducting the European Union, net ultraliberal court, apply to all mandatory and violations are punishable by themselves. Last Friday, six months after the rescue of Greece, a dozen technicians from the IMF, the ECB and EU representatives, landed in Dublin with their accounts on hand to explain the Irish Conservative government of Brian Cowen, the conditions to be met to be "rescued" . A Ireland is required to skyrocket your income tax, which is 12.5%, less than half the European average, restructure its banking system, to which the Government has guaranteed 100% of deposits, a decision strongly criticized by the EU and to tackle its budget deficit, 32%. The visitors will also review how very closely the details of the adjustment plan of 15,000 million dollars over the next four to be presented by the Irish Government in late November. To placate the nationalists of Owen resistance to international pressure, you probably remember that Ireland was no longer the poorest country in the European Union to become the second with the highest per capita income, which will eventually qualify of the "Celtic Tiger" due to millionaires Cohesion Funds contributed to the EU will enter the European community to solidify its economy and certified to standards of the rest of its partners. Ireland clouded, went into debt, and sank, like Spain, trapped the housing bubble. Today, the EU pays all these consequences and causes divisions among its members about the limits to be put to bailouts for countries in crisis due to irresponsibility. The Greek Prime Minister George Papandreou Social Democrat, criticized a few days ago, for example, Germany, by requiring banks to take some losses in the event of default by a country, to understand that the measure "creates a spiral of higher interest rates for countries in trouble. "
And immediately afterwards, Papandreou admitted to another group of experts from the IMF, ECB and the EU which also reviewed the march in Athens their adjustment plans, the deficit of 2009 had not been 13.6% as claimed by the Government, but of 15.4%. Therefore, the Government undertook to reduce the deficit this year by six points, through a reduction in spending on public hospitals and the reorganization of the Administration. Despite the supposed solution Greek case six months ago, the European Union has actually living under an attack of nerves, putting out fires here and there, trying to foresee what the next country infected. Portugal is today the most vulnerable to contagion from the crisis Irish. The Finance Minister Fernando Teixeira dos Santos, recognized the existence of "high risk" that his country is also obliged to resort to the Rescue Fund of the EU and the help of the IMF. Portuguese Foreign Minister Luis Amado, has acknowledged that the pact failed socialist government in a minority Social Democrat, opposed to the crisis, "Portugal could be forced to abandon the euro." It is the first EU government explicitly raised the possibility. German Chancellor Angela Merkel, warned just in the recent congress of his party, the Christian Democratic Union (CDU) "There is much at stake, if the euro falls, Europe fell." According to the conservative leader, "the idea of \u200b\u200bEuropean values \u200b\u200band the unit will fail, an idea that gave strength and prosperity to our continent after the war and the destruction of the last century." For his part, Zapatero's government was quick to say that "Spain is not Ireland or Greece, which has a strong economy, its banking system is among the healthiest in Europe and, as extra security "markets" because it recognizes that the announced economic recovery is still imperceptible, adopt additional adjustment. A recently passed labor reforms soon will join the pension reform, tighter control of unemployment that charge much more than four million unemployed, a public enterprise sector rationing, which would have 77 companies rather than the current 106, a brutal cut to support alternative photovoltaic industry and a series of measures. The Socialist government of Rodriguez Zapatero is doing a good hand with the IMF, the ECB, the EU and the ubiquitous markets.
And after Ireland, who will?
recipes differ little from them all. Economic guidelines in Brussels, where their headquarters to different institutions conducting the European Union, net ultraliberal court, apply to all mandatory and violations are punishable by themselves. Last Friday, six months after the rescue of Greece, a dozen technicians from the IMF, the ECB and EU representatives, landed in Dublin with their accounts on hand to explain the Irish Conservative government of Brian Cowen, the conditions to be met to be "rescued" . A Ireland is required to skyrocket your income tax, which is 12.5%, less than half the European average, restructure its banking system, to which the Government has guaranteed 100% of deposits, a decision strongly criticized by the EU and to tackle its budget deficit, 32%. The visitors will also review how very closely the details of the adjustment plan of 15,000 million dollars over the next four to be presented by the Irish Government in late November. To placate the nationalists of Owen resistance to international pressure, you probably remember that Ireland was no longer the poorest country in the European Union to become the second with the highest per capita income, which will eventually qualify of the "Celtic Tiger" due to millionaires Cohesion Funds contributed to the EU will enter the European community to solidify its economy and certified to standards of the rest of its partners. Ireland clouded, went into debt, and sank, like Spain, trapped the housing bubble. Today, the EU pays all these consequences and causes divisions among its members about the limits to be put to bailouts for countries in crisis due to irresponsibility. The Greek Prime Minister George Papandreou Social Democrat, criticized a few days ago, for example, Germany, by requiring banks to take some losses in the event of default by a country, to understand that the measure "creates a spiral of higher interest rates for countries in trouble. "
And immediately afterwards, Papandreou admitted to another group of experts from the IMF, ECB and the EU which also reviewed the march in Athens their adjustment plans, the deficit of 2009 had not been 13.6% as claimed by the Government, but of 15.4%. Therefore, the Government undertook to reduce the deficit this year by six points, through a reduction in spending on public hospitals and the reorganization of the Administration. Despite the supposed solution Greek case six months ago, the European Union has actually living under an attack of nerves, putting out fires here and there, trying to foresee what the next country infected. Portugal is today the most vulnerable to contagion from the crisis Irish. The Finance Minister Fernando Teixeira dos Santos, recognized the existence of "high risk" that his country is also obliged to resort to the Rescue Fund of the EU and the help of the IMF. Portuguese Foreign Minister Luis Amado, has acknowledged that the pact failed socialist government in a minority Social Democrat, opposed to the crisis, "Portugal could be forced to abandon the euro." It is the first EU government explicitly raised the possibility. German Chancellor Angela Merkel, warned just in the recent congress of his party, the Christian Democratic Union (CDU) "There is much at stake, if the euro falls, Europe fell." According to the conservative leader, "the idea of \u200b\u200bEuropean values \u200b\u200band the unit will fail, an idea that gave strength and prosperity to our continent after the war and the destruction of the last century." For his part, Zapatero's government was quick to say that "Spain is not Ireland or Greece, which has a strong economy, its banking system is among the healthiest in Europe and, as extra security "markets" because it recognizes that the announced economic recovery is still imperceptible, adopt additional adjustment. A recently passed labor reforms soon will join the pension reform, tighter control of unemployment that charge much more than four million unemployed, a public enterprise sector rationing, which would have 77 companies rather than the current 106, a brutal cut to support alternative photovoltaic industry and a series of measures. The Socialist government of Rodriguez Zapatero is doing a good hand with the IMF, the ECB, the EU and the ubiquitous markets.
And after Ireland, who will?
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