All posts tagged: Angela Merkel

Power to the People

The never-ending austerity that Europe is force-feeding the Greek people is simply not working. Now Greece has loudly said no more. As most of the world knew it would, the financial demands made by Europe have crushed the Greek economy, led to mass unemployment, a collapse of the banking system, made the external debt crisis far worse, with the debt problem escalating to an unpayable 175 percent of GDP. The economy now lies broken with tax receipts nose-diving, output and employment depressed, and businesses starved of capital. The humanitarian impact has been colossal—40 percent of children now live in poverty, infant mortality is sky-rocketing and youth unemployment is close to 50 percent. Corruption, tax evasion and bad accounting by previous Greek governments helped create the debt problem. The Greeks have complied with much of German Chancellor Angela Merkel’s call for austerity—cut salaries, cut government spending, slashed pensions, privatized and deregulated, and raised taxes. But in recent years the series of so-called adjustment programs inflicted on the likes of Greece has served only to make a …

Angela Merkel’s Triumph, With A Catch

How the outcome of Germany’s federal elections will effect the country and the Eurozone Never has a vote in Germany been followed so closely across Europe. Germany is Europe’s largest (and the world’s fourth largest) economy, its government has the leading voice in governing the Eurozone. Merkel’s steady stewardship of the country through the Eurozone crisis, and her “no-nonsense”-attitude to struggling members of the currency union has earned her both commendations at home and criticism abroad. The United States appreciates the strength and stability of Europe’s economic powerhouse but is skeptical of Merkel’s austerity-focused policies. With high approval rates in pre-election polls, it came as no surprise that Merkel’s Christian Democratic Union won last Sunday’s parliamentary elections. In gaining 41.5 percent of the vote, falling just five seats short of an absolute majority, Merkel almost wrote history: The last time a party had an absolute majority in Germany was in 1957 with Konrad Adenauer, the country’s first post-World War II chancellor. The No. 2 party nationally, the Social Democrats, failed to meet their election goal …