EU democracy in tatters, says Chomsky

“I’m not a great admirer of the [Federal Reserve], but I think they’ve been much more constructive and thoughtful and progressive than the ECB (European Central Bank) has been,” the Irish Times quoted him as saying.

He said the ECB has imposed “unfair and counterproductive” austerity measures on Europeans.

Chomsky warned that the austerity policies were stifling economic growth in European nations.

“It’s been quite harmful everywhere it’s been applied,” he said.

Chomsky’s warning coincided with the release of official data indicating that the employment rate in the eurozone has hit a record high of 12 percent in February 2013.

On February 22, the European Commission said the eurozone would witness another year of recession in 2013.

The winter economic forecast of the EU had also said that the jobless rate in the euro area would hit 12.2 percent for 2013.

Europe plunged into financial crisis in early 2008. The worsening debt crisis has forced the EU governments to adopt harsh austerity measures and tough economic reforms.

KA/HGH/SL

Source Article from http://www.presstv.ir/detail/2013/04/03/296311/eu-democracy-in-tatters-says-chomsky/

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EU democracy in tatters, says Chomsky

“I’m not a great admirer of the [Federal Reserve], but I think they’ve been much more constructive and thoughtful and progressive than the ECB (European Central Bank) has been,” the Irish Times quoted him as saying.

He said the ECB has imposed “unfair and counterproductive” austerity measures on Europeans.

Chomsky warned that the austerity policies were stifling economic growth in European nations.

“It’s been quite harmful everywhere it’s been applied,” he said.

Chomsky’s warning coincided with the release of official data indicating that the employment rate in the eurozone has hit a record high of 12 percent in February 2013.

On February 22, the European Commission said the eurozone would witness another year of recession in 2013.

The winter economic forecast of the EU had also said that the jobless rate in the euro area would hit 12.2 percent for 2013.

Europe plunged into financial crisis in early 2008. The worsening debt crisis has forced the EU governments to adopt harsh austerity measures and tough economic reforms.

KA/HGH/SL

Source Article from http://www.presstv.ir/detail/2013/04/03/296311/eu-democracy-in-tatters-says-chomsky/

You can leave a response, or trackback from your own site.

Leave a Reply

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