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News Link • Economy - International

Europe In The News: Ominous Prospects

•, by Michael F.
 Let's take a look at the highlights of recent events: Greece continues to have widespread protests and riots as unemployment remains above 25% (25.4%, when measured in August, 2012) and austerity measures continue to be implemented. Spain is in a deep recession, and has been since 2008. The banking industry in Spain alone could require 60 Billion Euros to remain solvent. Portugal and Italy are in similar straits to Spain and all three are close to emulating the protests, strikes, and general unrest taking place Greece. Germany has provided a foundation for the EU economically but has taken major spending cuts in order to support that activity. Britain, and France have scrapped or idled their capital ships. In other words Britain and France no longer are operating carriers and have limited power projection capabilities as we saw from the Libyan events. On Tuesday minority members of the Hungarian parliament "urged the government" to draw up a list of Jewish members of the government that might be security risks.

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