European Socialism Dies a Violent Death

[I AM NOT THAT GUY 5,715]

Protests against austerity measure spread across Europe

PARIS — French oil workers expanded a strike yesterday over government plans to raise the retirement age, while European discontent over belt-tightening measures flared up in Portugal, Italy, and Greece.

All of France’s oil refineries were on strike after two more plants voted to join the protest yesterday. The government deployed police to force the reopening of several fuel depots that had been blocked, raising concerns of possible gas shortages.

French students clashed with police and labor leaders planned more demonstrations today and Tuesday.

Across Italy, thousands of students and teachers staged demonstrations to protest planned cuts in higher education, while Portugal’s minority government faced a battle in Parliament over its plan for abrupt tax hikes and deep spending cuts.

Meanwhile, a labor dispute that kept out thousands of visitors for three days from debt-ridden Greece’s most famous monument, the Acropolis, ended only after employees were dispersed by riot police using tear gas.

France’s transportation system was running more smoothly yesterday, after severe disruptions hit air, rail, and road traffic earlier in the week.

http://www.boston.com/business/articles/2010/10/16/protests_against_austerity_measure_spread_across_europe/

[I AM NOT THAT GUY 5,715]

Business backs Britain's austerity drive

LONDON, Oct 18 (Reuters) - Business leaders on Monday urged Britain's coalition government to stand firm on its harsh austerity drive, arguing that big spending cuts were the only way to stop borrowing costs from rising.

But the Labour opposition, ousted in May after 13 years in power, said cutting a record budget deficit too quickly could damage the economy and argued that banks should have to pay more than twice the taxes they are being asked for now.

Finance minister George Osborne is due to unveil cuts worth 83 billion pounds ($133 billion) over the next four years on Wednesday to all but wipe out by 2015 a budget deficit running close to 11 percent of national output

Thirty-five senior business figures urged the coalition, made up of centre-right Conservatives and the centrist Liberal Democrats, not to water down its proposals.

"We believe that this would be a mistake," the group --including Stuart Rose, the outgoing chairman of Britain's biggest clothing retailer Marks and Spencer (MKS.L) and Andy Bond, chairman of Asda (WMT.N), the British arm of U.S. retailer Wal-Mart -- said in a letter to the Daily Telegraph newspaper.

Bosses from BT Group (BT.L), GlaxoSmithKline (GSK.L), Microsoft UK (MSFT.O) and Diageo (DGE.L) also signed the letter.

"The cost of delay would result in almost 100 billion pounds of additional national debt by the end of this parliament alone. In the end, the result would be deeper cuts, or higher tax rises, in order to pay for the extra debt interest," they wrote.

"As recent events in some European countries have demonstrated, if the markets lose faith in Britain, interest rates will rise for all of us."

LABOUR WARNING

Financial markets have so far warmed to the coalition's austerity plan, helping to drive yields on British government bonds down to record lows in recent weeks and going some way to safeguarding Britain's top-notch credit rating.

The four-year spending review on Wednesday will outline where the axe will fall across government departments, with welfare spending expected to take the biggest hit.

New Labour finance spokesman Alan Johnson said the government was moving too fast given the fragile state of the economic recovery, arguing that the coalition should stick to halving the deficit by 2014 as Labour had planned.

Johnson also said that 60 percent of that fiscal tightening should come from spending, with 40 percent from taxes and six billion pounds coming from banks each year.

The coalition's deficit plan has an approximate 75:25 split with a 2.5 billion pound levy on bank balance sheets.

"We don't have to look very far to see what happens when you get this wrong," Johnson told reporters. "Less than a month ago, we saw Ireland slide back into recession ... This government is going down the same road."

Britain's economy has slowed in recent months, having bounced back strongly from an 18-month recession and raising the chances that the Bank of England may have to do more to support growth.

The business leaders said the private sector would be "more than capable" of creating extra jobs to replace those lost in the public sector. Official estimates suggest more than half a million state-funded jobs could be axed.

http://www.reuters.com/article/idUSLDE69H1FQ20101018

[Obama 2012 1,714]

It's the 60's all over again... Youth being violent over free #######!

[Heracles 417]

There is always going to be a group against change, so this is nothing new. Basically like the Teaparty and bringing America into the 21st century and providing cost-effective health care. At least these fringe groups have a protest or two and get over it, you babies are still going on and on about it.

Increasing the age of retirement is hardly some indicative measure of the collapse of government. People live longer, well in Europe anyway.

Yes England is in a recession too, therefore, they are cutting back where they logically can, while also increasing taxes. A no brainer to most.

Edited October 19, 2010 by Heracles

[Danno 1,228]

There is always going to be a group against change, so this is nothing new. Basically like the Teaparty and bringing America into the 21st century and providing cost-effective health care. At least these fringe groups have a protest or two and get over it, you babies are still going on and on about it.

Increasing the age of retirement is hardly some indicative measure of the collapse of government. People live longer, well in Europe anyway.

Yes England is in a recession too, therefore, they are cutting back where they logically can, while also increasing taxes. A no brainer to most.

Actually they are Basically the opposite of the TEA PARTY.

These folks demand no cuts in Government.... and well the T-Party, they demand a cutback in Government.

Do you see the huge difference, one system on the way out and another perhaps being revived.

[Heracles 417]

Actually they are Basically the opposite of the TEA PARTY.

These folks demand no cuts in Government.... and well the T-Party, they demand a cutback in Government.

Do you see the huge difference, one system on the way out and another perhaps being revived.

Actually I meant they are complaining like the teaparty did regarding the desperately needed health care reform. Of course they are not like the bloody teaparty. I have not met one person with right wing views in another first world country that shares any of the backwards tea-party views.

I can honestly say I do not endorse a single idea of the tea-party. Cut back government? #######.. Considering We the People form the government. Personally I like law and order, which includes a strong government that looks out for We the People. The teaparty mob is so clueless that they actually think the government caused this financial crisis for America. That's when you know you have a group who is clearly knows nothing about economics or the real world. Unfortunately a group that also fits a number of stereotypes.

Edited October 19, 2010 by Heracles

[Danno 1,228]

Actually I meant they are complaining like the teaparty did regarding the desperately needed health care reform. Of course they are not like the bloody teaparty. I have not met one person with right wing views in another first world country that shares any of the backwards tea-party views.

I can honestly say I do not endorse a single idea of the tea-party. Cut back government? #######.. Considering We the People form the government. Personally I like law and order, which includes a strong government that looks out for We the People. The teaparty mob is so clueless that they actually think the government caused this financial crisis for America. That's when you know you have a group who is clearly knows nothing about economics or the real world. Unfortunately a group that also fits a number of stereotypes.

Not to be a stickler but.

you quoted "we the people" sever times... as if that was some statement about Forming a big Government or some justification for one.

.. When in fact the Constitution very carefully goes on to "limit" the federal Gov't.

Just sayin.

[ready4ONE 5,400]

[luckytxn 2,264]

The fall of civilizations come from when the people vote themselves hefty sums from the treasury.

[Pinocchio Liberal 268]

Hec and I was just feelin good about buyin 30 million suckers health care.

[Ban Hammer 13,403]

The fall of civilizations come from when the people vote themselves hefty sums from the treasury.

unfortunately, i think that will pass over the heads of many who've not read the book.

[luckytxn 2,264]

Hec and I was just feelin good about buyin 30 million suckers health care.

The health care industry really owes Obama the Socialist big time for the giveaway. The best part is he even said he was going to do it and the morons voted for him anyway.

[Danno 1,228]

The health care industry really owes Obama the Socialist big time for the giveaway. The best part is he even said he was going to do it and the morons voted for him anyway.

Yeah, I will hand that to em, when Clinton was elected people didn't realize what they were getting, With Obama, He flat out told us.

[luckytxn 2,264]

unfortunately, i think that will pass over the heads of many who've not read the book.

Lets just leave them scratching their heads and point and laugh at them.

[Mr. Big Dog 10,747]

As much as the right fringe wishes and hopes for the contrary, the social market economies of Europe are just fine. The fact that people don't like making necessary adjustments to benefits and entitlements shouldn't lead anyone to believe otherwise.