In the News (from Reuters): “Standard and Poor’s sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P’s Germany head Torsten Hinrichs told a newspaper.
“The high unemployment in Spain, Italy and France is socially explosive,” Hinrichs was quoted as saying in Monday’s Neue Osnabrücker Zeitung.
“’There has to be a social consensus for saving measures. High unemployment … does not help.’
“Hinrichs said the people of Spain and Portugal had already proven they were willing to bear with austerity measures, but ‘this cannot continue forever.’”
My Comment: It is necessary to immediately announce the introduction of integral education among the recipients of unemployment benefits and to test its effectiveness in a month, then social explosion would not be a threat, and on the contrary, “out of nowhere” a general sense of security and wellbeing will rise. It is elementary psychology …