European Social Welfare State Model Running Out of Time and Money

by Soeren Kern
Pajamas Media
May 21, 2010

http://kern.pundicity.com/7439/european-social-welfare-state

Excerpt:

European leaders are facing an uphill battle to restore confidence in the euro, after a €750 billion ($1 trillion) "shock and awe" financial rescue package failed to quell market fears that the sovereign debt crisis in Greece may spread across the European Union and possibly unravel Europe's single currency. Although European stocks and bonds briefly rallied after the bailout fund was announced on May 10, European markets have since erased those gains and the euro, which has become a key indicator of confidence in Europe's economy, has fallen to a four-year low against the U.S. dollar.

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