(cont'd from yesterday's post)
Why did French voters reject the budget cut proposal last summer? Because they wanted their share of benefits after paying high taxes for years to support benefits for others. They couldn't bring themselves to vote for financial sacrifice.
France is not the only EU country headed toward economic disaster.
One-tenth of working-age people in Britain claim payouts at public expense because of sickness/disability. Are they really entitled to the fruits of the labor of their neighbors? A politician says what they need is the old "work ethic" back, where it's the default to get a job so you take care of yourself and your family.
Germany has been "living beyond its means" for years according to the German chancellor. He says they can't go on with their welfare state. Politicians know this, but can they convince the people to make painful budget cuts for the greater good? It will be tough.
What will they do? As the president of European Central Bank warned a year ago, Europe's welfare states are “utterly unsustainable.”
from The Stream
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