EU says eurozone needs ‘permanent’ austerity

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AFP
October 11, 2011

The EU warned Tuesday that the eurozone requires permanent tough austerity measures if it is to cope with public debt set to crash through the 100-percent-of-GDP barrier and keep rising for many years.

With an ageing population piling up social security and pension costs, the European Commission says a radical long-term correction is required to put public debt throughout the 17-nation euro currency area on a sustainable path.

“The deterioration in the public finances of the euro area since the onset of the economic and financial crisis comes on top of already high starting levels of debt,” the Commission said in its quarterly report on the euro area.

This “at a time when the European economies are facing the prospect of the sustainability challenge of an ageing population,” it added.

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13 Responses to “EU says eurozone needs ‘permanent’ austerity”

  1. Yes, they want a Permanent Depression. These “central banks”… there really is no word to describe thieves they really are, but Andrew Jackson did a good job:

    ‘In discussing the Bank Renewal bill with a delegation of bankers in 1832, [Andrew] Jackson said, “Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”‘

  2. The former Chief Accountant of the EU Commission and whistleblower, just did a great interview on RT News explaining how Belgium didn’t even check into the facts of who they were giving money too. And also how the countries that needed the money didn’t get a cent. She also said they don’t know where all that money went.

    This interview needs to go viral.

    Peter Wolf Reply:
    October 11th, 2011 at 1:19 pm

    It could well be a scam to extract infinate amounts of cash from everyone under suspect pretexts.

  3. TRANSLATION: EU GENOCIDE PROCEEDING AS SCHEDULED BY NWO.

    Goodbye Europe. And three Kings shall die.

  4. Maybe they shouldn’t have made starting a family so expensive, mainly through the cost of housing. Things that have happened:

    1. Used to be that you could only get a mortgage 3x your salary. Banks extended this to 10x your salary. House prices rose accordingly.

    2. Consequently, large town homes have been subdivided into “luxury apartments”, with one bedroom each because nobody could afford them. Others have been converted into multiple-residency places. They were originally constructed so that any professional could afford them.

    3. Laws were implemented to restrict the sizes of new homes in construction. Mainly because of the shortage of land for development. Though construction companies prefer to build only for the “executive home” market.

    4. Even when we did have a housing shortage (and the UK has had one for the past 20 years), we still had open border immigration.

    Now they have the chutzpah to tell us, we need austerity measures to keep the economies going, because so many people are living longer?

  5. Needs permanent annihilation.

  6. Why not euthanise all of the elderly and then go for another round of bailouts and QE and austerity and then 5 minutes later decide that more bailouts and QE are needed and then more austerity and then more bailouts and QE and then more austerity and then more bailouts and QE and repeat as often as necessary ??

    It seems to have NOT fixed the problem so far so why stop now ??

    Its like they are using the elderly as a means of justifying more of the same.

    Anyway its NOT public debt as its private debt that hass been transferred to the public.BIG difference.

    GET OUT of the EU and GET OUT of the Eurozone asap.

    What exactly is the EU doing to initiate an economic recovery within the EU ??

    Anything ??

    Anything at all ??

    Anyone ??

    Nothing ??

  7. No suprise here. These A-Holes want to keep their serfs in line and send more of their money to their masters(the banks). Just what exactly are we talking about with austerity measures specifically, Nobody ever says ? Also all of this money being generated by the government is by them taking the money in taxes from the people who are the ones earning it. Shouldn’t those people have a little more say in what is done with their money !!!! They are pushing and I hope they are ready for a big pissed off pushback !!!!

  8. The EU has a plan, its call operation DRAG EVERYONE DOWN WITH IT. A controlled demolition of a different kind!!!!

    dhsn Reply:
    October 11th, 2011 at 2:39 pm

    MAD, Mutually Assured Destruction.

  9. The EU fails to mention that it is its own private central banks that are generating the debt and stealing billions form the e-con-omies of all European nations.

    The EU also fail to mention that the constant bailouts etc are unaffordable and unsustainable.

    The EU correctly state that the debt/GDP ratio is going to continue to increase as that is the objective so since that is a fact then they have NO solution to reverse the trend.

    EU = NO SOLUTIONS + INCREASED DEBT AND SERVITUDE AND SUBJEGATION AND SERFDOM.

    The EURO-PEON SOVIET SOCIALIST SOLDOUT REPUBLIC

    The EURO-PEON NAZI UNION

  10. The Eurozone needs to be trashed all together and go back to the Gold Standard !

  11. Numty num num to be made permanent, sounds like an oppertunity for marketing.

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