The euro zone will succumb to its first recession since the pandemic, with the economy shrinking for a second straight quarter in the final months of the year, according to a Bloomberg poll of analysts.
  • DankZedong @lemmygrad.ml
    9·
    1 year ago

    EU is already calling for austerity measures which is why over ten thousand people went into the streets in Brussels yesterday.

    I think the EU has the ‘bad luck’ of two major crises after each other because there’s almost no room for further budget cuts in most countries.

    Long live neoliberalism.

    • DankZedong @lemmygrad.ml
      6·
      1 year ago

      Like, I live in Antwerp which is the economic heart of the country and every morning it is a gamble if my metro will arrive on time or at all. Even more budget cuts and we might as well cancel the public transport as a whole. And this is in an urban area of 1.2 million people, imagine living in a smaller town. You’d be lucky to even have public transport.

      And then we have shortages in health care and education which won’t magically disappear with more budget cuts either. Where does the EU want this to end? The complete collapse of public services across its borders?

      Meanwhile Belgian companies had the most successful years ever with multi billion euro profits. They’d rather have little Yannick from Antwerp wait for an hour on his crowded tram to sit in a class with 30 other kids and one teacher while his mother works from home in a house that can’t be heated over 15 degrees than touch those profits.

      • SadArtemis🏳️‍⚧️@lemmygrad.ml
        5·
        1 year ago

        Where does the EU want this to end? The complete collapse of public services across its borders?

        Entirely possible, as a Canadian- it’s a very popular political strategy in the Anglosphere. Sabotage what govt. owned services exist for healthcare, transportation, education, energy, etc. and then use the collapse of said systems as an excuse for more and more privatization.

        I hate it here.

    • ☆ Yσɠƚԋσʂ ☆OP
      73·
      1 year ago

      Now that Europe is entering a recession, I really think the whole EU gig could unravel. It worked during the times of plenty, but now we’ll be seeing countries doing ladder pulling because the politicians will want to focus on keeping their domestic public happy.