Tragically the same scary picture applies to Ireland. I've copied the chart from a recent post on True Economics highlighting the horrendous rise in youth unemployment in Ireland. It's even worse for young men.
We are - in Giuliano Amato's memorable phrase - eating the future of our young. Golem XIV takes a similarly somber view of the ongoing rescue of Europe's
Of course, if our young don't get jobs then there won't be anyone to pay the taxes needed to repay the loans. Some how I don't think our under 30s will have other concerns when the time comes...
If the EU approves the plan to expand the EFSF then they are embarking on a gigantic Collateralised Debt Obligation, taking the yet-to-be earned income of European taxpayers and throwing it at the banks to prop up their traumatised balance sheets. Ultimately just lining the pockets of the wealthy bankers from this leveraged up booty.
In short, they are plundering from the future because it’s not around to protest against it.