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Thread: EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013

  1. #1
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    Default EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013

    Tucked away in what was headed the "Business and Technology" section of the new layout Irish Times, yesterday - I didn't hear too much discussion of this.

    EU Commissioner Ollie Rehn was quoted as "leaving open the possibility that a slightly bigger package (of cuts for Ireland) might be required in light of the new figures."

    The growth forecast has been cut from 1.9% to 1%.

    http://www.irishtimes.com/newspaper/...326307826.html

    In the meantime, today, the EU is trying to pass an increased budget (around 1 trillion euro) for itself in Brussels today. The argument for increasing the budget seems to be to pay for "increased policing of national budgets."

    You know it makes sense.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013

    Quote Originally Posted by C. Flower View Post
    Tucked away in what was headed the "Business and Technology" section of the new layout Irish Times, yesterday - I didn't hear too much discussion of this.

    EU Commissioner Ollie Rehn was quoted as "leaving open the possibility that a slightly bigger package (of cuts for Ireland) might be required in light of the new figures."

    The growth forecast has been cut from 1.9% to 1%.

    http://www.irishtimes.com/newspaper/...326307826.html

    In the meantime, today, the EU is trying to pass an increased budget (around 1 trillion euro) for itself in Brussels today. The argument for increasing the budget seems to be to pay for "increased policing of national budgets."

    You know it makes sense.

    Question we have to ask oursleves is did they government ministers know more about this than they let on and then let the Troikia impose the cuts on us. First thing to fall was the health system and Reilly fast tracking PCCs with no explanation, what happens if there is no money to build them? There has been little or no job stimulus packages after the IDA and Enterprise Ireland spent under their budgets. With the furore over the childrens referendum it has created a smoke screen. So will this push the people do you think Cass?
    History is the only true teacher, the revolution the best school for the proletariat - Rosa Luxembourg

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    Default Re: EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013

    The latest from the IMF was that new research showed that austerity programmes had lead to much greater economic contraction than they had believed.

    The economies of the EU are surrounded by a pack of well-placed hyenas, using "austerity" to remove employees rights, reduce social supports and to sell off public resources and privatise services.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013

    Quote Originally Posted by C. Flower View Post
    The latest from the IMF was that new research showed that austerity programmes had lead to much greater economic contraction than they had believed.

    The economies of the EU are surrounded by a pack of well-placed hyenas, using "austerity" to remove employees rights, reduce social supports and to sell off public resources and privatise services.
    The sickness at the heart of the Euro and the entire USE project, is the unwillingness of the institutions to put the needs of the people of the EU first.

    The problem is debt, the solution being imposed is to pay back the debt. If that's what they want, then let them pump more money into the system and increase inflation making the debts smaller and more managable.

    The ECB can't print money, can it? But it sure could bend the rules if it wanted to.

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    Default Re: EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013

    Quote Originally Posted by Shaadi View Post
    The sickness at the heart of the Euro and the entire USE project, is the unwillingness of the institutions to put the needs of the people of the EU first.

    The problem is debt, the solution being imposed is to pay back the debt. If that's what they want, then let them pump more money into the system and increase inflation making the debts smaller and more managable.

    The ECB can't print money, can it? But it sure could bend the rules if it wanted to.
    There is another related problem. The EU and the European economy is run by people who are not personally hurt by the crisis. In fact, for many of them, it is an opportunity to buy cheap and to force firesales of valuable public resources.

    There is a real issue for us to grapple with and that is that for a long time the population of Europe indirectly benefited from hyper-exploitation of colonies - taking natural resources including oil and other minerals and using them for manufacture, selling back goods into the colonies and making profit.

    That era is pretty well over and the world is becoming more equal in terms of where manufacturing is carried out.

    At the same time, there is a natural tendency for the average rate of profit to decline over time, and they are looking at ways of reversing that for themselves.

    The rich and powerful in Europe are determined that they will not pay for any reduction in relative income, and want to force wages down here and strip out public services that were first got through trade union actions and protests.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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    Default Re: EU Commission Cuts Growth Forecast - Rehn Says More Austerity For Ireland in 2013


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