Tag Archives: austerity

Who should decide? Finance Ministers, EU Leaders or Europeans via Referendum?

Greece did not submit a new reform proposals at the Eurogroup meeting today and it was a wise decision.
Eurozone finance ministers should not decide on something that is no longer a financial/economic matter. There was just an inspired politician among Finance Ministers, but he did not speak the same language of the others and he is no longer there. Finance Ministers have been speaking out too much when they should have probably kept silent and let politicians and prime ministers take the lead and the responsibility that comes with it. Continue reading

The hot summer of youth unemployment in Europe

Recently published data shows that youth unemployment in Italy has reached a startling 40% (general rate is 12.7%). But Italy is just one amongst many Eurozone countries where recession is being particularly cruel with young people.

During the past three years, tax hikes – wrongly denominated “austerity” – have triggered protests all over the Eurozone. However, no meaningful market or labor reforms have been implemented; better, the weight of labor flexibility and salary cuts, as well as of a later retirement age, has been imposed on the youngest, the so-called “outsiders”.

Both governments and European leaders are de facto ignoring the problem.

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