But the proverbial chickens have come home to hatch the result. The short work weeks, long vacations and fancy pensions which have bankrupted European economies are now unsustainable and unmanageable. They no longer can be tolerated even by the politicians who have the tendency to buy off voters with unaffordable spending sprees. (See the Earl J. Weinreb NewsHole® comments.)
Wednesday, May 9, 2012
The Questionable European Living Style
The
European living style has been an impressive mirage. Since World War
II most of its major countries have had social welfare types of
government, outside that of Germany and Switzerland. With their GDP
averaging 2% annually, while that of the U.S., for example, averaging
about 3%.
But the proverbial chickens have come home to hatch the result. The short work weeks, long vacations and fancy pensions which have bankrupted European economies are now unsustainable and unmanageable. They no longer can be tolerated even by the politicians who have the tendency to buy off voters with unaffordable spending sprees. (See the Earl J. Weinreb NewsHole® comments.)
But the proverbial chickens have come home to hatch the result. The short work weeks, long vacations and fancy pensions which have bankrupted European economies are now unsustainable and unmanageable. They no longer can be tolerated even by the politicians who have the tendency to buy off voters with unaffordable spending sprees. (See the Earl J. Weinreb NewsHole® comments.)
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