France: Tax Hike, Spending Cuts Approved
July 4, 2012 |
The French Cabinet approved a 7.2 billion-euro ($9 billion) tax hike and 1.5 billion-euro spending cuts July 4 in response to an audit that said the country would need 43 billion euros to stay within its budget for the next two years, AFP reported.
It looks as if France is going to SPEND their way to prosperity ??????????
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Italy: Deficit Data Released
July 4, 2012 |
Italy's public deficit in the first quarter of 2012 was 8 percent of output, exceeding the 7 percent figure of the same period in 2011, AFP reported July 4. Italy's statistics office said the increase reflected higher spending on interest and lower tax revenue. Italy plans to cut its public deficit, which was 3.9 percent of output in 2011, to 1.3 percent in 2012 and 0.5 percent in 2013. Italian Prime Minister Mario Monti and German Chancellor Angela Merkel are scheduled to meet late July 4 to discuss the eurozone
| Another country that says it will change its ways in a couple of years. Looks to me as if the ECB will have to have the printing presses going 24/7. I have a few of the Reichmarks from the twenties & thirties that are worth Zilch- Is that going to happen to the Euro?????
Kirby
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