How are Europeans surviving the impact of an international economic meltdown with an 8.5% unemployment average (up 70% in a year), layoffs, bank bailouts... the same financial fiascos we are dealing with here in the USA?
Europeans are resistant to an American-style "stimulus package", because their social welfare programs, along with creative initiatives and subsidies by their government, are holding back a recession... for now, anyway.
"While economic forecasts are just as dire on this continent as in the United States, Germany’s citizens — and, indeed, most across western Europe — can count on a broad government safety net that includes generous unemployment checks, universal healthcare and inexpensive university education to tide them over."
European-style social "security" comes with a price, however... far higher taxes (52%) than we are accustomed to paying. Read more>>
