‘We’ve had ENOUGH Merkel’ Rest of Europe gangs up on Germany over crippling EU austerity
ANGELA Merkel cut an increasingly isolated figure in Europe tonight as the rest of the continent ganged up on Germany over its imposition of crippling austerity.
By NICK GUTTERIDGE
Express.co.uk
Sat, Aug 6, 2016
Major EU nations including France, Italy and Spain are clubbing together to form a new alliance with the aim of wrestling back economic power from the German leader.
Mediterranean economies have been devastated by an EU-wide policy of austerity enforced from Berlin, which has led to massive youth unemployment and soaring poverty.
Pressure is now growing from across the continent though. In April, Mr Tsipras and the Portuguese premier Antonia Costa signed a joint declaration claiming that EU austerity-driven policies are “wrong”.
Fiscally conservative Germany, which is the EU’s largest economy, is reluctant to loosen the purse strings and authorise the huge injection of cash many other member states need to kickstart their fortunes.
But policies which have benefited German industry and exports have caused economic oblivion in many parts of southern Europe, and now the rest of Europe seems to have had enough.
The leaders of France, Italy, Spain, Portugal, Cyprus and Malta are planning to meet in Athens next month to forge a new anti-austerity alliance with the aim of wrestling back control of the European Central Back (ECB), which sets Eurozone fiscal policy, from Berlin.
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