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Heiner Flassbeck warns: Europe in Peril

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Uploaded by on Jun 23, 2011

Complete broadcast: http://www.kontext-tv.de/node/121
Excerpt of Kontext TV broadcast "Europe In Peril: Debts And Social Cuts"
With Heiner Flassbeck, Senior Economist at the United Nations Conference on Trade and Development (UNCTAD), Geneva
While the German government presents the Euro crisis as a problem of debt overload like in Greece Heiner Flassbeck, senior economist of UNCTAD says that the root causes for the problem lie in the unresolved financial crisis. Like Greece Portugal is facing similar destructive austerity measures. In Ireland one can see a severe banking crisis. But EU and the German government bail out indepted banks and shift the costs of this crisis to the population.

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  • Excellent commentary on the sad state of affairs...

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