Special Series: Continental Shift
How deep cuts in government spending are transforming Europe as it grapples with debt.
Angela Merkel, Germany's chancellor and chairman of the leader of the Christian Democratic Union party (CDU), reacts during a news conference at the CDU party headquarters in Berlin, Germany, Sept. 19, 2011. Merkel??s party was defeated in a Berlin state election and her coalition ally lost all its seats after turning skepticism over euro-area bailouts into a campaign theme, stoking government infighting over the debt crisis. Photographer: Michele Tantussi/Bloomberg *** Local Caption *** Angela Merkel?
Many Germans wonder why neighboring countries can’t make the economic sacrifices they have made.
The Portugese government has vowed to cut waste and improve competitiveness.
The crisis has been especially painful for Spain, where cuts were made by a Socialist government.
Debt problems have Greece scrambling to contain a breakdown in the rule of law.
London’s population shift may emerge as one of the most dramatic examples of the deficit-busting crusade taking place across Europe.
The social benefits that have been a way of life since World War II seem to now be unaffordable.
The Italian town’s history has been replaced by globalization and a merciless economic crisis.