Friday, October 11, 2013

'Europe faces catastrophe with pain & suffering equal to WWII" (VIDEO)

The Red Cross says Europe is heading into a long period of mass unemployment, inequality and social despair.

The organization believes austerity policies are to blame according to a report obtained by Britain's Guardian newspaper.

It forecasts bleak times ahead for about 120 million Europeans living in, or close to, poverty.

The report says those out of work for more than a year amount to 11 million.

For more thoughts on Europe's sinking economy RT joined by Chris Clarke, a senior lecturer at Nottingham Business School.

Read the transcript here

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