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Failure Of Austerity

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  1. Austerity Bomb
  2. Anti-Austerity Protests
  3. Growth-Killing Spending Cuts
  4. Mass Unemployment
  5. Eurozone
  6. British Recession
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Eurozone in Longest Recession on Record

On May 6, I wrote on Fox News Europe was in danger of falling into a permanent recession—a depression.Now, the European statistical agencies report France joined Italy and Spain's recessions during the first quarter, and economic activity across the entire eurozone continued to contract.The straight jacket imposed by euro-think -- allegiance to a failed experiment in a common currency, ill-conceived and overzealous austerity measures, and halting and inadequate labor market reforms -- caused continued economic contraction across the entire currency bloc.Europe's gross domestic product fell 0.2% in the first quarter, after dropping 0.6% in the fourth quarter, and has been falling for six-straight quarters.Germany is barely growing -- GDP was up a scant 0.1% after falling 0.7% in the fourth quarter. Europe's situation would be akin to California being in neutral, while the rest of the United States went backwards -- profoundly!In France, investment is sinking like a stone -- new spending...

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