EU melting down in capitalist crisis

by Stephen Petrina on November 14, 2012

With a day of general strikes, Italy, Portugal, and Spain joined Greece in anti-austerity protests and blockades. For the last moth, the theme in Greece has been “enough is enough” as the worst capitalist crisis in Europe since the Great Depression fuels uncertainties and moves students and workers toward unity. In May, students launched mass protests across Spain while faculty members followed with their own strikes. The financial crisis is the tip of the iceberg. For example Spain, with an unemployment rate 25.8% and a youth jobless rate of 54.2%, faces the deepest budget cuts on record with cuts to spending on health, education and benefits, and increases in sales taxes and levies on income.