Buy Buy Europe 2: Austerity till the Grave

About the series

A strong, liberal economy was the goal of the European Union. The introduction of the Euro would deliver new prosperity for everybody. But the credit crunch and the debt crisis followed by the big recession exposed that, according to the makers of the series, the Europen Union is an union of competition and inequality. In this web series we will explore who is winning and who is losing in the euro crisis. How did it come this far, and most of all, what kind of Europe do we want?

Austerity till the Grave

In this episode, we take a look at the inhabitants of the European Union who eventually footed the bill for the bailout of the financial sector after the debt crisis. People throughout the EU struggle to pay their bills. The youth unemployment rate has risen up to 52 percent in Greece and 57 percent in Spain. In Spain already 400,000 people have been evicted. How do the hardworking people from Spain and Greece cope with these hardships?

Economic interest

The Eurozone was built at the high point of the neoliberalism. Policymakers believed that liberalized banks would send money to where it is most needed, and it was believed that if you left it to the market there would be investments and growth. The assumption was that in a globalized capitalism there would be no more crises. The Euro promised new prosperity throughout the union. But the credit crunch and the debt crisis followed by the recession led to a different future for the EU.