Austerity and under-occupation: that is, the European Union hates Europeans
Incredible how, on the same day, two news items show the sent incongruity of a European Union that history will reveal as the triggering cause of the decline of the West and its values.
Eurostat revealed the latest data relating to underemployment in the EU, a value that includes not only official unemployment, but also the number of workers who currently appear as inactive because they have abandoned the search for a job, especially in those states where enrollment in the placement lists does not lead to any particular advantages. Here is the graph in question
Spain Italy and Greece have a level of under-employment well above 20%, the area of Germany, Austria and the new European industrial center, Poland. Practically, Germany and its satellites are over-occupied, and this is also evident from the particularly high inflationary data. Mediterranean Europe, on the other hand, is in severe suffering and would need either a monetary devaluation or powerful monetary injections.
The Union could, indeed should, seek to resolve these contradictions. What does it do instead? The exact opposite: after an unconvincing and as always divided Eurogroup comes the tombstone. The French finance minister Le Maire, and the German one Lindner have reached an agreement on the basis of "A healthy investment policy" that "Overcomes the division between austere and spending countries", but above all "Leads to a credible debt reduction ". The crisis of 2011, that of Covid, even the current energy crisis have been of no use at all, nothing has been learned. It is not understood that austerity increases the differentials between individual states, and the reduction of debt pursued in any way as a main objective, does nothing but increase it and reduce growth. That the only way is to do the exact opposite: forget for a moment the priority of debt and focus on real growth, leaving the reins of the economy free. Instead, on the one hand, very strong fiscal and bureaucratic ties and snares are imposed, with the excuse of decarbonisation, on the other, it is necessary to reduce the debt. The results are evident: mistrust, demographic decline, poverty and, culturally, the crisis of the Western model. Among other things, the agreement marks a powerful defeat for Draghi, reduced to being the spectator of the agreement.
What are we to write, in the end you can not do anything. Italy is only a land of conquest. We will be passive in the process of destroying our civilization – Amen.
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The article Austerity and under-occupation: that is, the European Union hates Europeans comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/austerita-e-sotto-occupazione-cioe-lunione-europea-odia-gli-europei/ on Wed, 19 Jan 2022 09:40:24 +0000.