German Chancellor Angela Merkel on Wednesday said European Union members must be open to treaty changes to strengthen joint economic governance in the 28-nation bloc.
Celebrations took place in the central square of Zagreb, with fireworks and music including Beethoven’s Ode to Joy, the European anthem.
By Michael Snyder
Did you actually believe that they were not going to use the precedent that they set in Cyprus? On Thursday, EU finance ministers agreed to a shocking new plan that will make every bank account in Europe vulnerable to Cyprus-style bail-ins.
European Central Bank head Mario Draghi has again defended the ECB’s bond-buying program, saying the crisis backstop was more important now following recent market turbulence sparked by other central banks around the world.
By: Byron Sanford
The economic depression that has engulfed Europe has resulted in a snowball affect that has in turn further weakened the European Union beyond most people’s imagination.
By Richard Fitzpatrick
Healthcare cuts and unemployment cause a host of societal ills, yet Europe refuses to save its citizens, says Richard Fitzpatrick, Brian McArdle worked as a security guard in Lanarkshire, near Glasgow. He was 57 years old when he had a stroke on St Stephen’s Day, 2011. It left him paralysed on his left side, blind in one eye, and unable to speak. He signed up for disability income.
By RHEA WESSEL
Demonstrators blocked a large swath of central Frankfurt early Friday, standing in streaming rain to show their opposition to austerity policies in Europe.
By Christoph Schult
From the outside, it looks as though the European Union is hopelessly divided. Northern member states demand budgetary discipline while those in the south bemoan drastic austerity measures. Furthermore, theFranco-German alliance is brittle, to the point that a planned policy paper on the future of the European common currency area – to be written jointly by German Chancellor Angela Merkel and French President François Hollande – has yet to materialize.
Across southern Europe resistance is taking on a new urgency. In Spain people are speaking of the start of ‘the real struggle’, while in Greece the term ‘civil war’ permeates the political climate. In both countries a frightening re-emergence of a dictatorship past seems to characterize the current historical moment as fascist ideologies become more acceptable and police tactics become more pre-emptive and militarized. These two trends emerging together, the rise of far right ideologies and pre-emptive militarized policing, indicate a shift in the discourses of legitimacy used by the state.
“I can not imagine that the European Parliament will approve a budget that creates deficits, that is because it is illegal.” ANSA said the President, Martin Schulz, in Milan today for a series of meetings, with reference to the difference of 51.6 billion euro specified in the draft Vanm Rompuy between appropriations and actual cash.
By Michael B.
The economic implosion of Europe is accelerating. Even while the mainstream media continues to proclaim that the financial crisis in Europe has been “averted”, the economic statistics that are coming out of Europe just continue to get worse.
Europe is not just heading into another recession. The truth is that Europe is heading into a full-blown depression. The economy of the EU is actually larger than the U.S. economy, and we are watching it melt down right in front of our eyes.
By ALEX BRITTAIN
The euro-zone economy declined further at the start of the fourth quarter, business surveys suggest, with sentiment in Germany—the euro zone’s biggest economy and key source of financial support—worsening markedly.
AS the spiritual pilgrimage site for the world’s most powerful Mafia bosses, the Shrine of our Lady of Polsi in Calabria’s Aspromonte mountains has long symbolised the lawlessness that still prevails in corners of southern Italy.
The European Union was announced the winner of the Nobel Peace Prize 2012. A heated debate emerged over the validity of the award amidst the backdrop of Europe’s as-yet-unsolved economic crisis.
The 27-nation organization was awarded the prize for its role in “uniting the continent,” and its contributions “to the advancement of peace and reconciliation, democracy and human rights in Europe.”
About 8,000 demonstrators chanted anti-austerity slogans and hoisted banners warning Angela Merkel she was not welcome in Greece at a protest on Monday, the eve of a visit by the German chancellor.
Tens of thousands of workers, young people, unemployed and retirees took part in demonstrations in major cities of Portugal and Spain Saturday, in a mounting confrontation between the European working class and the savage austerity policies demanded by the bankers, big business and the European Union.
- Nearly 2,000 members of the Greek security forces attended rally in protest at austerity measures and proposed pay cuts
- Took place on same day as ECB launched new plan to save the euro by buying the debt of troubled eurozone countries
- Bold plan triggered a row with Germany which views it as central bank funding of ‘profligate’ governments.