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The latest protest in London against the UK Governments austerity drive brought out a quarter million people on the streets and turned violent with looting and arson targeted at West End luxury stores and Banks as per Reuters. Luxury brands like the Ritz Hotel , Fortnum and Mason food store and top class foreign banks like the HSBC and Santander Bank were attacked with stones and paint bombs by youth in black masks who joined the protest march and fought pitched battles with the police. The march across London was called by the unions and supporters of the Labor party against the decision of the Conservatives now in power to reduce the budget deficit currently running at 10% to half by 2015 a measure that has cut 300,000 jobs in the public sector last year and brought unemployment level to the highest since 1994.
During the last few months protest rallies have marked unrest all over the globe from middle east to Europe primarily due to economic hardships of the masses either suffering due to sharp price surges or spending cuts enforced by Governments to limit deficits. Last year the first protests began at Athens the Greek capital, against IMF enforced austerity imposed on pensioners and Government staff. Thereafter austerity protests, food riots and social unrest spread to Ireland, Spain and Portugal in Europe, Mozambique, Tunisia and Libya in North Africa and Egypt, Yemen, Bahrain in the middle east.
Whereas the global economy is still on uncertain footing , and food, commodity and oil prices are spiraling globally, Europe is going through an unprecedented recession where demand may take years to recover.Under such circumstances the pro-active attack on Qaddafi's forces fighting the rebels by the French led Western Alliance appears extremely strange, especially as the strongest of the EU economies Germany abstained from military action. Both the French and the British Governments who are spearheading the attack on Qaddafi forces are spending billions of dollars each day in a war that may not see a quick and decisive end .It will be interesting to see how they finance the war expenses
The latest protest in London against the UK Governments austerity drive brought out a quarter million people on the streets and turned violent with looting and arson targeted at West End luxury stores and Banks as per Reuters. Luxury brands like the Ritz Hotel , Fortnum and Mason food store and top class foreign banks like the HSBC and Santander Bank were attacked with stones and paint bombs by youth in black masks who joined the protest march and fought pitched battles with the police. The march across London was called by the unions and supporters of the Labor party against the decision of the Conservatives now in power to reduce the budget deficit currently running at 10% to half by 2015 a measure that has cut 300,000 jobs in the public sector last year and brought unemployment level to the highest since 1994.
During the last few months protest rallies have marked unrest all over the globe from middle east to Europe primarily due to economic hardships of the masses either suffering due to sharp price surges or spending cuts enforced by Governments to limit deficits. Last year the first protests began at Athens the Greek capital, against IMF enforced austerity imposed on pensioners and Government staff. Thereafter austerity protests, food riots and social unrest spread to Ireland, Spain and Portugal in Europe, Mozambique, Tunisia and Libya in North Africa and Egypt, Yemen, Bahrain in the middle east.
Whereas the global economy is still on uncertain footing , and food, commodity and oil prices are spiraling globally, Europe is going through an unprecedented recession where demand may take years to recover.Under such circumstances the pro-active attack on Qaddafi's forces fighting the rebels by the French led Western Alliance appears extremely strange, especially as the strongest of the EU economies Germany abstained from military action. Both the French and the British Governments who are spearheading the attack on Qaddafi forces are spending billions of dollars each day in a war that may not see a quick and decisive end .It will be interesting to see how they finance the war expenses
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