The cultures that is Europe
All from last week:
Greece’s health minister appealed to panicked patients struggling to secure medical treatment to remain calm after pharmacists continued their boycott of the country’s largest state health-care provider by refusing to extend credit to patients, in another sign of a credit squeeze taking hold of the economy.
Here is that article. There is also:
Even as many European countries tighten their belts in response to the sovereign-debt crisis, French President François Hollande granted more generous pension benefits to some workers, delivering on a campaign promise ahead of legislative elections.
Here is that article. Furthermore:
The French government approved a measure Wednesday that will restore the retirement age of 60 for some workers, partly reversing unpopular 2010 pension reforms made by former president Nicolas Sarkozy that raised the retirement age to 62 as he sought to cut state deficits.
Europe’s troubles look daunting enough already, but another crisis looms.
Most European Union countries owe more than twice their annual gross domestic product in pensions promised to current workers and retirees. As governments scale back benefits, companies and individuals face a rising burden. But saving for old age could prove a crushing blow to growth.
And so the clock ticks.