Chinese Recipe For Europe: Cut Your Debt Or It Will Cut You!

Imagine Barack Obama telling you to get your financial house in order!!!


YouTube Added:14.09.2011

Italy is deciding on the future of a highly unpopular austerity package intended to put a leash on the country’s runaway debt. The country’s lower house of parliament is voting today on whether to pass an extensive set of tax hikes and spending cuts. The measure’s already been passed by the Senate, despite weeks of wrangling and mass public protests. But, even if passed, many wonder if it will be enough. Because, as RT’s Sara Firth reports, years of economic stagnation and a culture of government excess may have left it too little too late.
On Tuesday, Barak Obama had some harsh words, now it’s China’s turn to tell Europe to get its financial house in order. The Premier of the world’s second largest economy warned the Eurozone it must stop its crisis getting worse. Asia is concerned the EU’s problems could take down the whole global economy. For more, RT talks to Francis Lun from investment company Lyncean Holdings Limited.

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