This was a big mistake, but it pales by comparison with Europe's hugely destructive austerity policies, or the collapse in infrastructure spending in the United States after 2010.
Faced with mass protests against austerity measures in January 2009, the Latvian coalition government responded by sending out riot police to face the demonstrators.
But the demonstrations against austerity policies taking place in Iceland, Ireland, Great Britain, France, and Greece have gone unreported because those demonstrations cannot be presented as demonstrations against oppressive governments.
The austerity measures that have been imposed on Greece have driven down the economy by 27%, thus increasing the ratio of debt to GDP and worsening the financial situation of Greece.
Grillo was able to exploit popular discontent because all of the parties once identified with social reforms and the labor movement, support the austerity measures dictated by Brussels, Berlin and Rome.
And we should reverse the de facto austerity policies that are holding back the U.S. economy- the unprecedented cutbacks at the state and local level, which have been hitting education especially hard.
The change of course has happened gradually, under the pressure of intense fluctuations on the stock exchanges and financial markets, the threat of bank failures and growing opposition to the austerity measures of the Greek government.
The protest began with the expensive gasoline but then brought to the table the precariousness of living conditions due to the austerity policies implemented by France, under the aegis of the EU.
Following a show of support from European business circles after Borisov's election, criticism of his government is now growing, centering on demands for the implementation of much harsher austerity measures.
Rome's new coalition government comprising the League and Five Star Movement has called for a reversal in austerity policies and has vowed to increase public investment.
They thus succeeded in capturing the deep-rooted social exasperation among broad popular layers- those who have been the main victims of austerity, job losses, benefit cuts.
However, fresh threats of secession by the Lega Nord and last week's general strike over austerity measures have revived fears about the stability of the political system.
The austerity imposed on the Portuguese people by the 1% has resulted in the election of a coalition government of socialists, communists, and a“left bloc.”.
The austerity imposed on the Portuguese people by the One Percent has resulted in the election of a coalition government of socialists, communists, and a“left bloc.”.
Yatsenyuk is a banker, very Western-oriented, and seen as sure to accede to the demands of the International Monetary Fund and the international banks for austerity measures in exchange for a“bailout” of the Ukraine's debt.
The destruction of Greece, like the destruction of America, by the big banks and financial firms is not, as the bankers claim, about austerity or imposing rational expenditures or balanced budgets.
So, under again German pressure, the Eurozone countries in crisis such as Greece have been forced to impose draconian austerity, slash pensions, cut wages.
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