Austerity actions by Euro nations fill roads with demonstrators

European citizens organized angry protests against austerity measures as governments struggle to recuperate from the European debt crisis by cutting social services and increasing taxes. A primary complaint is that while European governing bodies spent billions to bail out banks, austerity forces the general public to foot the bill. With demonstrations underway, a going to United States of America Treasury official implored European governing bodies to be careful that austerity does not derail a fragile global economic recovery.

Crowds come with austerity

In a day of austerity protests on Wednesday, hundreds of thousands of individuals marched across Europe. Reuters reports the protests were led by trade unions, which say austerity will slow economic recovery and punish the poorest citizens. Trade unions organized protests in 12 European capitals to demonstrate against spending cuts and pension and labor market reforms. In Europe, there was a crowd of about 60,000 in Brussels, Belgium waving their banners in protest. These banners said things like “Priority to jobs and growth” and “No to austerity.”

Cultural programs mainly all austerity focuses on

There is one major reason that the austerity protests in Brussels are happening. It is because member states with high joblessness are running up deficits to fund their social products which lead the European Union Commission to come up with the proposal of penalizing these member states. France is the country fighting hard and strong towards the EU proposal that Germany wants mostly because it wants sanctions to determine things instead of hard cutting rules, reports the Huffington Post. Greek doctors and railway employees simply walked to show what is happening in other European places. Spanish workers made their statement too. Buses and trains were shut down. In Ireland, a man blocked the Irish parliament with a cement truck in protest of the country’s massive financial institution bailouts.

United States urges Europe to go light on austerity measures

A top United States Treasury official visited Frankfurt throughout the austerity demonstrations. He urged Europe to slow down a little on things. The Wall Street Journal reports that Americans and Europeans disagree about whether stimulus or austerity is the solution to a weak global recovery. The United States of America firmly believes that a stimulus will work the best. Europe disagrees getting increasingly more spending cuts and increases in taxes. Lael Brainard, U.S. Treasury Undersecretary for International Affairs, explained that the best objective is to support a lasting recovery rather than using austerity to fix the weak global demand.

Data from

Reuters

reuters.com/article/idUSLDE68S24620100929?type=marketsNews

Huffington Post

huffingtonpost.com/2010/09/29/spain-strikes-over-auster_n_743014.html#s146799

Wall Street Journal

online.wsj.com/article/SB10001424052748703431604575521833087264428.html?mod=googlenews_wsj