While Europe is back in austerity mode, the US are more wary. Will economic recovery be hindered or helped by rolling back public expenses?
The G20 meeting in Toronto (Muskoka) is showing signs of disagreement, with Merkel on one side of the spectrum and Obama on the other.
Der Spiegel (International)
The G-20 talks in Canada this weekend are to focus on shoring up the global economy but German commentators are not expecting much in the way of agreement. Ahead of the summit Germany and the US have been trading barbs about whether the best strategy is to save or spend.
A trans-Atlantic tiff has been brewing ahead of this weekend’s G-8 and G-20 summits as the US and Europe disagree on how to best ensure recovery from the global economic crisis. (read more)
The Independent has its own take on the new budget, dubbed bloodbath budget and mustered Nobel Prize winner Joseph Stiglitz as a witness for their cause.
Joseph Stiglitz, the Nobel prizewinner who predicted the global crisis, delivers his verdict on the Chancellor’s first Budget and tells Paul Vallely it will take the UK deeper into recession and hit millions – the poorest – badly (read more)
The Guardian gives voice to the disappointment of LibDem voters.
Nick Clegg is suffering a fierce public backlash over the coalition’s VAT rise, with almost half of Liberal Democrat supporters saying the tax U-turn makes them more likely to desert the party.
A YouGov/Brand Democracy survey, which will alarm already restive Lib Dem MPs, shows 48% of those who voted Lib Dem at the election are now less inclined to back them again as a direct result of the increase in VAT from 17.5% to 20%.(read more)
The Daily Mail has other concerns and imho has it totally wrong:
British shoppers are to be banned from buying eggs by the dozen under new regulations approved by the European Parliament.
For the first time, eggs and other products such as oranges and bread rolls will be sold by weight instead of by the number contained in a packet.
Until now, Britain has been exempt from EU regulations that forbid the selling of goods by number. But last week MEPs voted to end Britain’s deal despite objections from UK members. (read more)
I still shop in Germany and I still buy eggs by the number, they give the weight of the eggs, however. So this is bs and serves only to highlight what happens if journalists go for the sensation instead the truth. But the mail is rather more into following Victoria Beckhams different hairstyles.
What happened to The Sunday Times ? Well,they’ve decided to have us pay for their content and are now in the process of getting us to sign up for trial versions. I’m not going along, so no more Times here.
Boring as it may get for you, when it comes to politics, the English and the Germans are out of it today. We are facing an epic battle, if you believe the tabloids, this afternoon at 4 p.m.
July 11th all will be said and done and football will take a backseat yet again.