Austerity Today- Austerity Won’t Work if the Roof Is Leaking

Austerity Won’t Work if the Roof Is Leaking New York Times Hasn’t Germany been one of the most outspoken advocates of fiscal austerity after the financial crisis? Yes, and that’s not a contradiction. Fiscally responsible businesses routinely borrow to invest, and so, until recently, did most governments … See all stories on this topic »   Anxious, austerity-minded, but worldly: the young Britons of Generation A The Guardian This is Generation Y, born between the 1980s and the millennium, hammered by the recession andausterity. Generation Y faces more years of financial slowdown, but what is to become of the cohort following in its footsteps, arguably moving through an … See all stories on this topic »   Labour and the Tories’ woes show our political system is breaking apart New Statesman On the other side of the political aisle, activists from the People’s Assembly Against Austerity don’t think much of Labour either. One of their luminaries, PCS general secretary Mark Serwotka, spelled out why in his Staggers piece last week, berating … See all stories on this topic »   Potential Mistakes (Wonkish) New York Times (blog) Understating output gaps leads to excessive demands for austerity and excessive complacency at central banks; this perpetuates the depression; and the longer the depression goes on, the more misleading the standard estimates become. So it’s good news … See all stories on this topic »   Municipal workers protest in Greece over government layoff plans Press TV Greece has been at the epicenter of the eurozone debt crisis and is experiencing its fifth year of recession, while harsh austerity measures have left about half a million people without jobs.” Greek municipal employees have held demonstrations against … See all stories on this topic » Calls for a 5pc rise in welfare cash for our poorest OAPs Herald.ie Age Action Ireland says the cumulative impact of a series of austerity budgets is having a devastating impact on our senior citizens. The advocacy group has pleaded with the Government, particularly Social Protection Minister Joan Burton, to include a … See all stories on this topic »   Bulgaria’s president calls for early elections amid mass anti-government protests The Province The government of Prime Minister Plamen Oresharski took office after the May 12 early elections following the resignation of his predecessor Boiko Borisov amid anti–austerity protests. The appointment of controversial media mogul Delyan Peevski as head … See all stories on this topic » Teen ‘lying on the road for an hour’ in wait for ambulance Irish Independent AUSTERITY measures are to blame for leaving a 14-year-old girl lying on the road awaiting an ambulance for more than an hour, the union representing HSE ambulance drivers claims. Also in this section. Robinson at festival · Dissident arms haul is … See all stories on this topic » Social Justice Ireland wants Govt to increase pension payments Irish Examiner Cuts to income and services have left pensioners at breaking point, it was claimed today. Age Action warned Government that the cumulative impact of multiple austerity budgets was having a severely damaging effect on the most vulnerable of older people. See all stories on this topic »

The withering of America’s exception agriculturelle Financial Times Lacking the money for a proper stimulus and the time to wait for the healing power of austerity, Europe’s leaders have pinned their economic hopes on trade with the US. Negotiations on the proposed transatlantic trade and investment partnership, which … See all stories on this topic »

Ipsa: MPs’ role in our democracy ‘should be recognised’ Telegraph.co.uk Independent Parliamentary Standards Authority (Ipsa) chairman Sir Ian Kennedy admitted that theausterity being felt by the country made its review of MPs’ salaries and pensions tougher, but said that the role MPs play in a democratic system means they … See all stories on this topic »

China: luxury dining goes mid market Financial Times (registration) (blog) There is plenty of room for skepticism about whether Beijing’s latest austerity drive will have any lasting impact on the per capita consumption of Lamborghinis by government officials. But in one area it clearly has had a marked effect: luxury dining. See all stories on this topic »Italian austerity drive forces Vatican to pay more property tax BusinessGhana More ». Italian austerity drive forces Vatican to pay more property tax. News Date: 5th July 2013. The Vatican said Thursday it had to pay an extra 5 million euros (6.5 million dollars) in property tax last year as a result of austerity measures … See all stories on this topic »