[lbo-talk] EU gets serious

[Wendy Lyon]

This makes no sense whatsoever. The austerity measures are still going
through in Greece. They're still going to go through in Portugal and
Spain. Quite possibly there may be further austerity measures in
Ireland too, because we're pledging €1 billion + for the Greek bailout
and it's hard to see where that's going to come from under our current
budget. The bailout is anything but a reward for the riots.

On 10/05/2010, double bluff <mullah_omar at email.it> wrote:
> Revolting pays, according this point of view, so many will follow the Greek
> example.
>
>    Now You Really Shouldn't Expect Austerity In Europe
>
> <http://feedproxy.google.com/%7Er/clusterstock/%7E3/Wi0Vnq0uYJ0/greece-austerity-riots-2010-5>
>
>
>  The message from the Eurozone today is clear -- if you rack up massive
> amounts of debt which you can't pay, don't even think about trying to get
> your financial house in order.
>
>  Riot instead. Throw firebombs at police, and use your violence to scare
> neighboring countries into paying your bills. They'll do it in the name of
> stability.
>
>  That's the victory Greece just won and if it was hard to make significant
> austerity measures happen there before, now it just seems stupid for Greece
> to do so. Persuading eurozone nations to bail you out is an easier
> proposition than cooling mass riots which will erupt if tough austerity
> measures are announced.
>
>  If it stopped here it wouldn't be so bad, but don't think other Eurozone
> populations haven't notice the victory of Greek rioters.
>
>  Pushing through fiscal discipline just became a lot harder in nations such
> as Spain or Portugal, in addition to Greece. Expect more riots and less
> fiscal responsibility, because riots have just been rewarded. Right now it
> seems like a necessary evil, but the day heated /anti-bailout/ riots happen
> in nations such as Germany or France is the day intra-European politics
> becomes extremely ugly.