'Starve society to impose unseen poverty': EU chiefs' way out of crisis

France says it's unlikely to meet its target of reducing the public deficit to the 3 percent limit set by the EU. Portugal and Spain are also trying to deal with unprecedented levels of unemployment, while Greece has suffered ongoing protests over it's austerity policies. For more RT talks to social analyst and philosophy lecturer at the University of the Aegean, Panagiotis Sotiris.

RT LIVE http://rt.com/on-air

Subscribe to RT! http://www.youtube.com/subscription_c...

Like us on Facebook http://www.facebook.com/RTnews
Follow us on Twitter http://twitter.com/RT_com
Follow us on Google+ http://plus.google.com/+RT

RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 500 million YouTube views benchmark.

• Category

  News & Politics

[Jhon Smith]

The rich aren't happy having gigantic mansions, sports cars, the best medical care, food and luxury. Their greatest enjoyment is other peoples suffering. They love knowing that others fail and are miserable. That's why the French and Russians violently over threw them. They always manage to slither back and make life miserable for the honest hard working people that make them rich though.

[dinobluto]

Public spending cuts are designed to weaken the people by reducing their income. Big business still receive billions in tax cuts and grants.

[aviomaster]

GREECE is just tip of the ICEBERG.

Romania YU banana republics Romania Bulgaria Poland Baltic States are all in the same shit as Greece

[Astavakra1981]

The futures markets are set up to control the price of fysical commodities, in favor for the financial sector. Do you know that banksters can and do bankrupt farmers by naked short shelling futures contract and in the proces drive down prices of wheat, corn, soy, sugar, etc, etc. And do you know that when you look at a field of wheat, that only about 10% of that reprecents the profit of the farmer. In other words if he loses 10% of his crop, than he has worked one year for nothing.

[io007a]

that's right but that doesn't mean that thre real things change they just switch posesion, it's basicly the same goods but in diffrent hands,but take for ex a righ guy 1000 times richer than you and me eats 1000 times more? no he basicly eats a couple of times more in resources than other poor-medium people so in the most important aspects the rich doesn't affect the final result of world development, and what the rich buy is contracts not phisical oil wheat giving other incentive to produce.

[Astavakra1981]

Dude, banks buy land, property, gold, silver, oil, etc, etc with printed and digital money. And in that proces your hard earned money becomes worthless, due to the inflation caused by the money printing.

[io007a]

man banks can never create or destroy anything it's just smoke and mirrors, they are an escape goat, oil production per capita peaked in the '80, we have a real supply problem that is prohibiting growth banks just accelerate and decelerate that growth over a period of time they don't enhance or destroy it in the long run, if money are printed out of thin air how are they going to affect the real things? they are not they are just numbers and dinamics the real problem is energy not money.

[io007a]

man get this socialism doesn't work the really rich can't spend they're money even if they wanted, if you want to socialize and you take money from the rich you only make stuff more expensive, this should triger investments for more goods right? but who does the investments if the rich have no money?the only way to take money from the rich is by reducing the working week and rebalancing the suply and demand forces in the workforce markets, this works only if it's done globaly and that's the prob