Has Austerity Gone Too Far In The EU??

Jul. 02, 2013 11:14 AM ET

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Where is the EU headed??

Lately we have read the news, as yesterday another finance minister from the EU via Portugal resigns from his post. Mainly "austerity measures" and the "populace" are not content with the current "financial reform".

This view has spread over months across Europe, along with Spain, Greece, Cyprus, Italy...the list grows. The main issue is "tax dollars" and how to recover to ...cutting "public sector" jobs...has been the outcome. As well, increasing "property tax" and as in Greece "restaurant tax"...the "middle-class" are feeling the "pinch".

The G20 meeting in Russia on July 19-20 of 2013, once again this topic will be brought to the "roundtable". Along with one of the FED members Fisher providing explanation in an article last week about "bail-in's". The EU has been mentioned by many that it will and can be the "tipping point" again for a second round of a possible financial crisis.

Will the EU contain it's current sentiment via weaker Euro nations that "austerity" is causing serious cracks in the "EU armor". New nations are joining the EU...Croatia, Serbia...can they maintain the "status quo" entry. The next level of "austerity" will be North America...how far will the U.S and Canadian governments extend their rules...will it be similar to Europe??

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