4 ms·
While one hand was trying to balance the budget cutting in investment (education that makes people happier and more productive, healthcare that keeps people hea
by kartan 8y ago
While one hand was trying to balance the budget cutting in investment (education that makes people happier and more productive, healthcare that keeps people healthy, ...) the other hand has been increasing the expenses and decreasing revenue (giving bailouts to bankers, allowing tax havens).
How was austerity supposed to balance the economy when money was given away to the rich and taxes reduced? For each euro that was removed from schools, more than that was given to banks. Each time public health benefits were reduced there was a new company moving to Ireland, Malta, etc.
So, now we have the same or more unbalanced budgets but citizens are poorer, less educated and do not see a future for themselves.
> Continued stagnation will feed the resentment and anti-establishment, anti-euro forces in Italy.
The Eurozone countries need to increase revenues and start investing that money into education to prepare its citizens for the new economy. The alternative is disenfranchised citizens stuck in poverty that will fall in the hands of populism.
You have to spend money to make money. Austerity misses the point.
- Mirioron 8y agoWhat's the point of investing the money into education if the people study in poor countries and then move to the rich countries? Brain drain is a real problem and there has been no solution for it. I'm being facetious about the education part, but you can't deny that those countries are paying for the education of many people who end up going to western Europe.
- kartan 8y ago> What's the point of investing the money into education if the people study in poor countries and then move to the rich countries? The point is to make people happy. That people that emigrates has an opportunity that would have never had. Some of them will come back bringing other countries knowledge. That doesn't mean that you are wrong. "Brain draining" is a real problem. I like the logic of "What if we train our employees and they leave? What if we don't and they stay?"
- presidente20 8y agoFair point but I think the problem is that the brain drain is exacerbating the other structural problems in the eurozone.