“The Financial Crisis Pushes Europe to the Brink of Disaster
By Danny Schechter, AlterNet. Posted March 12, 2009.
What is happening there will make things worse for us here. Tools
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KREMS, Austria — Obsessed as we are about our own crumbling economy, it’s hard for most Americans to see and appreciate the global nature of the crisis and how it is impacting, and will impact, others throughout the world. We don’t recognize how many in other countries blame the fall of their own economies on a kind of “financial AIDS” born in the USA.
Protests are spreading through the European continent. Britain has put its own army on alert for fear of disruptions this summer by anarchists bent on class war with slogans like “burn a banker.” Mass demonstrations show no sign of abating in France, Iceland, Ireland, Greece and other EU countries.
People here have politicized economic issues, perhaps because of a more thorough and diverse media environment, as well as an expectation that their governments have a duty to protect their people. Continue reading