As the austerity measures imposed by the EU start to bite deep…

You make it sound like the EU suddenly upped and imposed ‘austerity’ on perfectly healthy economies! 😀

The EU ‘imposed’ austerity as a condition of lending more money to EU countries (but not Spain) who had spent, and were spending, more money that they could ever afford to pay back…

…the choice was EU loans (with the condition of some austerity) or bankruptcy!

All these countries chose the EU loans…..although the population of most of these countries don’t seem to understand the realities of the situation that they are in.