EU President Warns: Euro-Socialism on the Verge of Collapse
BRUSSELS (AP) – A bold $1 trillion rescue by the European Union halted the slide of the euro on Monday and sent markets soaring worldwide in a gambit that may ultimately be seen as the moment Europe truly became a union.
…EU president Van Rompuy warned that the bloc risks irrelevance and the end of its expensive welfare programs if it can’t speed up economic growth, forecast to expand by just 1 percent this year.
“With 1 percent growth we can’t finance our social model any more. With 1 percent structural growth we can’t play a role in the world,” he told the World Economic Forum in Brussels. “We need to double the economic growth potential that we now have."
Labels: EU, Europe, European Union, Socialism
3 Comments:
OT
US Slaps Sanctions on al-Qaida Leaders in Yemen
Sanctions against individual tribal leaders?
What does that mean? Now Obama is treating tribal leaders (who are acting as enemy combatants) as foreign dignitaries to be punished by means of the international protocols?
The smallest violin needs to be played for these Euro-socialists.
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