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LONDON (AP) - Six weeks of vacation a year. Retirement at 60. Thousands of euros for having a baby. A good university education for less than the cost of a laptop.
Now the welfare state—cherished by many Europeans as an alternative to what they see as dog-eat-dog American capitalism—is coming under its most serious threat in decades: Europe's sovereign debt crisis.
Deep budget cuts are under way across Europe. Although the first round is focused mostly on government payrolls—the least politically explosive target—welfare benefits are looking increasingly vulnerable.
"The current welfare state is unaffordable," said Uri Dadush, director of the Carnegie Endowment's International Economics Program. "The crisis has made the day of reckoning closer by several years in virtually all the industrial countries."
Expectations are growing that France is set to remove the right to retire at 60, as it embarks on a contentious reform of its debt-laden pension system and brings public finances back into line.
Christian Estrosi, industry minister, said on Sunday the government was “leaning towards an increase in the [retirement] age” in its talks with unions and employers’ federations, despite denials from cabinet ministers over the weekend of a decision being taken.
All but one of France’s five main unions have rejected suggestions that the retirement age should be increased, favouring instead taxes to fill a deficit expected to hit €32bn this year, as much as €45bn in 2020 and possibly more than €100bn in 2050.
Originally posted by Ulala
We'll just have to cut back on reckless military adventures, bailing out the banks etc ... nothing else for it.
Certainly can't cut back on education, university funding etc ... that'd be a retrograde step, we'd end up as dumb as the average American is now.
Originally posted by The Cap de Pepene
Originally posted by Ulala
We'll just have to cut back on reckless military adventures, bailing out the banks etc ... nothing else for it.
Certainly can't cut back on education, university funding etc ... that'd be a retrograde step, we'd end up as dumb as the average American is now.
you see, it's imbecilic comments like these that make people think Northern Europeans are racists twats and generally happy at the thought that you have a low fertility rate.
[edit on 23-5-2010 by The Cap de Pepene]
Originally posted by prionace glauca
reply to post by Chevalerous
Are you in favor of the break up in the EU, a return to the old where each country retains its sovereignty instead paying into the national collective that some have become use to because of the bailouts of bad behavior.
I see Germany is definitely looking to depart and yearning the return of the deutchsmark.
I see Germany is definitely looking to depart and yearning the return of the deutchsmark
Transatlantic Economic Council
U.S., EU Focus on Regulatory Barriers at Transatlantic Economic Council
U.S. and EU officials met in Washington on October 26-27, 2009, for the U.S.-EU Financial Markets Regulatory Dialogue (FRMD) and the first Transatlantic Economic Council (TEC) to take place during the Obama presidency. The TEC meeting, which occurred in the early stages of a recovery from a major international financial and economic crisis and just ahead of the next U.S.–EU Summit, reviewed global economic challenges and stressed the need to cooperate even more closely, including to enhance the integration and competitiveness of U.S. and EU economies.
US and EU: Transatlantic Partnership for the 21st Century
Bush OKs 'integration' with European Union
Congress never asked about new obligation
President Bush signed an agreement creating a "permanent body" that commits the U.S. to "deeper transatlantic economic integration," without ratification by the Senate as a treaty or passage by Congress as a law.
The "Transatlantic Economic Integration" between the U.S. and the European Union was signed April 30 at the White House by Bush, German Chancellor Angela Merkel – the current president of the European Council – and European Commission President José Manuel Barroso
The document acknowledges "the transatlantic economy remains at the forefront of globalization," arguing that the U.S. and the European Union "seek to strengthen transatlantic economic integration."
The agreement established a new Transatlantic Economic Council to be chaired on the U.S. side by a cabinet-level officer in the White House and on the EU side by a member of the European Commission.
The Transatlantic Economic Council was tasked with creating regulatory convergence between the U.S. and the EU on some 40 different public policy areas, including intellectual property rights, developing security standards for international trade, getting U.S. GAAP (Generally Accepted Accounting Practices) recognized in Europe, developing innovation and technology in health industries, implementing RFID (Radio Frequency Identification) technologies, developing a science-based plan on bio-based products and establishing a "regular dialogue" to address obstacles to investment.
At a joint press conference, Bush thanked the other two leaders for signing the "trans-Atlantic economic integration plan," commenting that, "It is a recognition that the closer that the United States and the EU become, the better off our people will be."
Barroso said the Transatlantic Economic Council is meant to be "a permanent body, with senior people on both sides of the Atlantic."
Originally posted by Ulala
We'll just have to cut back on reckless military adventures, bailing out the banks etc ... nothing else for it.
Certainly can't cut back on education, university funding etc ... that'd be a retrograde step, we'd end up as dumb as the average American is now.
Originally posted by Peruvianmonk
Oh you jealous free market capitalists bastards are loving this aren't you? Just becasue you were not able to get this system, one that FDR promised for you, you are loving seeing it being taken from the people who did.
You should all be fighting to have the right to retire at 60!? Who wants to work after that age? If you do fair play but most people want to relax after working for night on 40 years.