Eurozone: Not Exactly La Vie En Rose

Eurozone: Not Exactly La Vie En Rose

The European Union expects its economy to shrink in 2013, adding another year of dismal performance to its depressing track record. The Wall Street Journal (subscription model) reports:

The European Commission, the EU’s executive arm, forecast Friday a 0.3% contraction for 2013 and sees falling spending by businesses, consumers and national governments pushing euro-zone unemployment to a new high. Mass joblessness is expected to increase in the countries hardest hit by the crisis, with the average unemployment rate expected to reach 27% in Greece, 26.9% in Spain and 17.3% in Portugal.

Note those staggering unemployment numbers on the EU’s southern tier. Yet the American left constantly touts the European mo

del as something we should imitate.

The Eurozone is caught in the trap of the modern progressive state: its regulatory zeal dampens economic growth, while its entitlement policies continually ramp up spending, which is then financed by deficits. But lately even ardent statists have come to recognize that the growing deficits are not sustainable. So the pressure is on to cut national deficits below 3% of GDP. France and Spain are currently in the forefront of this effort, but always on the lookout for wiggle room to avoid painful spending choices.

Barack Obama and his cultists should take note. But they won’t.

Image credit: Glentamara via Wikipedia

Get Free Email Updates!

Signup Now to Receive Updates and Alerts!

We will never give away, trade or sell your email address. You can unsubscribe at any time.

@streetwise_IT

Retired from American Airlines after a 34 year career in corporate treasury management. Professional income tax preparer. Graduate of Georgetown University (BS Foreign Service) and The University of Texas at Arlington (MBA). Contributor to TMR since 2007. Host of "Italian Tomatoes" show on Blog Talk Radio. I am a center-right Republican with a passion for business, history and current affairs. Go to Blog Talk Radio to listen to my latest show Celebrating An Exceptional Country

More in

image-415.jpg

Donald Trump Proved Right AGAIN! Mexican Murders Two in Montana

Michael BeckerAug 1, 2015
image-413.jpg

“Pro-Life” Jeb! Bush Was a Director of a Foundation that Funneled Millions to Planned Parenthood

Michael BeckerAug 1, 2015
image-411.jpg

Obama: Biggest Threat to Safety is Americans With Guns NOT Muslim Terrorism

Michael BeckerAug 1, 2015
image-410.jpg

The Iran Deal – Iran Gets $150B and They’re Out in 90 Days

Michael BeckerAug 1, 2015
image-408.jpg

Boehner About to be Fired?

Michael BeckerJul 31, 2015
image-406.jpg

Academic Study Finds Obama is the Fifth Best President in History

Michael BeckerJul 31, 2015

The Minority Report is a network of websites devoted to Conservative & Libertarian politics in the United States. In 2014 the network had over 20 million page views!

On this site you'll find posts & links to some of the best and most comprehensive center-right news and opinion on the net...

February 2013
M T W T F S S
« Jan   Mar »
 123
45678910
11121314151617
18192021222324
25262728  

Archives

Copyright © 2014 The Minority Report Network