Europeans take to the roads in demonstration of austerity actions

Europe roiled with strikes and marches as citizens protested austerity measures–which contain cutting social services and increasing taxes–which governments are enforcing as they try to climb out of the European debt crisis. At issue for Europeans is the fact that the austerity actions impact the rank and file when billions were spent to prop up failing banks. Meanwhile, a top United States Treasury official warned European governments that economic recovery, not austerity, should be the priority.

Austerity gets lots of focus

Hundreds of thousands of people marched in Europe because of an austerity protest Wednesday. Reuters reports that the demonstrations 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 Brussels, Belgium, a crowd of about 60,000 gathered from across Europe, waving union flags and carrying banners saying “No to austerity” and “Priority to jobs and growth.”

Austerity concentrates mostly on cultural programs

The austerity protests in Brussels coincided with a proposal from the European Union Commission for new penalties that punish member states gripped by joblessness for running up deficits to fund cultural systems. France is the country fighting hard and strong against the EU proposal that Germany wants mostly because it wants sanctions to choose things rather than 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. One man in Ireland used a cement truck to protest. He was protesting the financial institution bailouts in the country by blocking Irish parliament.

United States urges Europe to go easy on austerity actions

European officials were told to slow down a little throughout the demonstrations by a top U.S. Treasury official going to Frankfurt. The difference between The United States and Europe when it comes to fixing global climate that is so weak is American’s think stimulus is the answer when Europe believes austerity will work best, reports the Wall Street Journal. The United States of America firmly believes that a stimulus will work the best. Europe disagrees getting more and more spending cuts and increases in taxes. Lael Brainard, United States of America Treasury Undersecretary for International Affairs, explained the best objective is to support a lasting recovery instead of using austerity to fix the weak global demand.

Articles cited

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