Ireland has pulled out of the IMF/EU bailout program, making it the first nation to work its way free of rescue loans. However, the country has yet to break free from the strict austerity measures which have characterized the bailout period.
Protesters in several Italian cities have clashed with police amid anti-austerity protests which have lasted for almost one week. The so-called “Pitchfork” protesters are marching against cuts and calling for the government to resign.
A recent WHO report shows grim health implications from Europe’s economic crisis, including a trend in Greece in which citizens infect themselves with HIV to access the meager range of government benefits available.
Dublin has withstood the final test from the troika of international lenders, which gives Ireland green light to become the first EU country to exit a bailout program in December. The country will return to going directly to bond markets for finance.
While European governments try to tax their citizens into oblivion, these citizens have no choice but to look for alternatives and resort to the shadow economy, Felix Moreno de la Cova, trader and portfolio manager at RF trading, told RT.
Public unrest in Italy, fueled by the new budget rolled out by the shaky ruling coalition, has united unemployed youth and the captains of industry in opposition, James Walston, an Italian politics expert from the American University of Rome, told RT.