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Austerity building anger and gloom

Austerity building anger and gloom
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Prime Minister Mario Monti of Italy continues to seek ways to get the economy growing, to avoid lumbering into a prolonged recession and a cycle of austerity. RAI3 television reported on the mounting outcry against his reforms.

Portugal commemorated its 1974 Carnation Revolution on 25 April, and the foundation of democracy and the country’s social model. RTP television reported on the difference in this year’s celebrations.

The Spanish parliament, dominated by the conservative Partido Popular, this week passed the most austere budget since the restoration of democracy. On top of that, the government decreed lower spending for public health services, Spanish TVE television reported.

In Britain, GDP has contracted for two quarters in a row, a defining trend we call recession. Projections have been disturbingly wrong, and the economy is stagnant, with the hardest austerity measures in a generation, France 2 television reported.