Austerity in Europe

Topics: Spain, Tourism, Tax Pages: 2 (601 words) Published: April 17, 2013
Austerity in Europe
Austerity is a state of reduced spending and increased frugality by a financial sector. Austerity measures are normally referring to actions taken by the government to reduce expenditures in an attempt to cease and belittle their increasing budget deficits. The people of a country do not agree with austerity because the measures taken are typically to lower the quantity and quality of the services and benefits provided by the government. Several nations since 2009 have taken austerity measures that were not foreseen. The actions taken were carried out because of the climbing budget deficits from the governments trying to help stimulate their own economies after the 2008 global crisis. The countries of Spain and Portugal are not getting any better. The countries are cutting more and more of their deficit spending while increasing taxes. Spain plans to cut an extra 13 billion euros in 2013. They plan to cut 150 billion euros over the next three years. A citizen claims that the government is taking away the health system. Spain’s youth unemployment, which is much higher than the already steep unemployment (25%), sits at an atrocious 50 percent. Spain’s government has been warned by the European Union that it will no longer receive financial assistance if they do not cut their deficits. The Spanish government has already persisted through nine months of tough austerity measures. Seventeen of Spain’s regional governments were forced to cut spending in healthcare and education. The healthcare is suffering severely. The hospitals are giving minimal coverage to patients on all floors of the hospital due to the cuts in budget. This is Spain’s second recession in three years. Businesses are releasing workers as the recession affects them. As a result of the layoffs, registered unemployment has reached a staggering 4.71 million people. Spain is having a very rough time with several protests and strikes occurring across the nation. There were 800,000...
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