Europe In The News: Ominous Prospects, by Michael F.
It appears as if there are some new developments going in on the Continent, that unfortunately appear to be old memes being resurrected for the 21st Century. Let’s take a look at the highlights of recent events: Greece continues to have widespread protests and riots as unemployment remains above 25% (25.4%, when measured in August, 2012) and austerity measures continue to be implemented. Spain is in a deep recession, and has been since 2008. The banking industry in Spain alone could require 60 Billion Euros to remain solvent. Portugal and Italy are in similar straits to Spain and all three are close to emulating the protests, …