Daft Property - Irish Property News

The widespread slashing of budget deficits could plunge Europe and the world into a second recession... Let's go over to Rome to hear the vote of the Italian jury. "€26bn in cuts over two years, including savage reductions in health spending and road building." And now it is over to Spain. "Good evening, Madrid. €15bn in spending cuts over two years? Thank you Madrid." Paris? "€5bn in cuts over two years." Athens? A punishing €30bn over three years, on top of previous cuts. Good evening to London, where a new coalition jury has just gathered. "£6.2bn of cuts in the present tax year with much, much more to come." The sound of screaming and howling that can be heard all over Europe resembles a European Cuts Contest. In the last two weeks, almost all EU governments have been slashing their budget deficits in order to prop up stockmarkets, blunt attacks on the euro and the pound and discourage the kind of speculation on sovereign, or national, de...