Supranation austerians

Most countries in the eurozone are in recession and what do the austerians (led by Merkel and Cameron) do? Cut the EU budget…

This means lowering salaries of EU personnel (this was supported by German media claiming that many EU bureaucrats earn more than the German chancellor), and reducing spending of the EU apparatus.

In the absolutely best case this will directly and indirectly impact people who earn so much that their propensity to consume is low anyway and nothing will change. In the worse and more likely case, this directly and indirectly reduces demand of wage earners within and outside of the EU bureaucracy and worsens the eurozone-wide recession.

But hey, it’s really important that water gets privatized.

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This entry was posted in austerity, belief systems, economic policy, eurocrisis, neo-liberalism. Bookmark the permalink.

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