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Why Austerity is Returning to Europe

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The latest Eurostat data didn’t make for happy reading with most of the EU running a deficit and 11 members in violation of fiscal rules. In this video, we’ll explain ’s debt crisis; what the EU can or should do about it; and how it might be fixed.

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1 – https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-22042024-ap
2 – https://www.ft.com/content/5125db1e-a0c4-4d5e-9960-59ee781ac88f
3 – https://www.lemonde.fr/en/les-decodeurs/article/2023/11/14/dirty-money-and-russian-riches-flow-through-cyprus-a-gateway-to-the-eu_6255018_8.html
4 – https://www.icij.org/investigations/cyprus-confidential/cyprus-model-politics-tax-haven-russian-wealth/
5 – https://www.ft.com/content/378ab955-eda2-4922-93aa-8eb0f8a6b7c6
6 – https://rightcasa.com/all-of-the-taxes-that-will-increase-in-spain-in-2024/
7 – https://taxfoundation.org/blog/spain-tax-reform-madrid-catalonia/
8 – https://www.ft.com/content/5125db1e-a0c4-4d5e-9960-59ee781ac88f

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34 Comments

34 Comments

  1. @oskars1419

    May 2, 2024 at 9:58 am

    eu need trade with china and usa, and be an economic link between China and the USA

  2. @hchzoz90

    May 2, 2024 at 9:58 am

    It seems worth mentioning that government spending is a part of the GDP. So a comparatively large US deficit and their stronger GDP growth are intrinsically linked. Growing moderately but without a big deficit may – depending on t he country and its economic situation – be the wiser choice. There is demographic change and younger generations have to pay the interest on that debt.

  3. @AnonymousAlcoholic772

    May 2, 2024 at 9:58 am

    The solution is obvious. We, the Greeks, owe a debt to our neighbors for showing us the way and the benefits of austerity. Thank you for helping us reform. Now, let us help you get rid of your irresponsible and profligate ways. Least we could do. AUSTERITY! AUSTERITY! AUSTERITY!

  4. @AnonymousAlcoholic772

    May 2, 2024 at 9:58 am

    You will notice that Greece has THE HIGHEST defense expenditure as a percentage of GDP while running one of THE LOWEST deficits. In sharp contrast to, oh lets say, those spendthrift Germans, who spend HALF as much on defense, while running a MUCH larger deficit. Oh yes, I think some AUSTERITY is very much in order. How delicious! How did they manage to get in the EU with such deficits…tsk tsk tsk. They’ll let anyone in im afraid.

  5. @petroskyriacou560

    May 2, 2024 at 9:58 am

    It's astonishing how quickly TLDR's accusation of "Laundering Russian money" has managed to eclipse Cyprus' commendable economic discipline in FY24.

    This overlooks the stringent EU-wide sanctions prohibiting any involvement with Russian funds. Such a statement seems unfairly dismissive of Cyprus' efforts.

  6. @terryj50

    May 2, 2024 at 9:58 am

    good this time the UK and USA should not bailout any EU country

  7. @user-tw3gs2xv2y

    May 2, 2024 at 9:58 am

    The EU is a club of idiots who take the Europeans to bankruptcy and to decline. Who have done everything to decrease their life quality ! Just a bunch of morons , who finance a war that is not winnable,spend money that they do not have !

  8. @benjaminlamey3591

    May 2, 2024 at 9:58 am

    everybody seems to forget that Macron increased the spendings towards big corpo for tens of billions. that is where the deficit is. is a hard liberal, ciutting all state benefits and giving the money to big corpo without even asking for a return (like jobs). the last cuts are in the ecology, in order to cut more taxes to himself and his friends and gove more subsidies to international corporations.

  9. @Cicero_de_fato

    May 2, 2024 at 9:58 am

    We could easily abandon the green transition and the military aid for Ukraine…

  10. @sydneylaroche8276

    May 2, 2024 at 9:58 am

    Did austerity ever leave? We had austerity my entire adult life in the UK (and most of this time was whilst we were in the EU before anyone tries to discredit what I'm saying). I'm 31. Guess what? The deficit grew. We suffered for no reason at all.

  11. @Jompabompa

    May 2, 2024 at 9:58 am

    Can we just scrap the EU?

  12. @Miratesus

    May 2, 2024 at 9:58 am

    self inflicted due to climate.

  13. @nunyabidness3075

    May 2, 2024 at 9:58 am

    This why we are supposed to run mild surpluses in most years, boys and girls. Borrowing to pay for goodies to buy votes now doesn’t seem so smart, does it?

  14. @taranjk1

    May 2, 2024 at 9:58 am

    We never left austerity…

  15. @geoffreymak000

    May 2, 2024 at 9:58 am

    If eu workers on average work 10% longer hours, they would STILL be working less than 40 hours a week. So this 3.5% deficit is not a problem, coz you could boost your productivity by 10% easily. You just chose not to.

  16. @marcionero7412

    May 2, 2024 at 9:58 am

    sociailsm never work

  17. @raphym.3666

    May 2, 2024 at 9:58 am

    I may be a total dumbass in economics but… default on debt ? I mean… it would give more money for the budget, while reducing the risks of economic problems, no ? Sure, it can create some recessions, but there is already one, I don't see how it is so impossible to do. But again, I'm an absolute idiot in economy.

  18. @Jones7095

    May 2, 2024 at 9:58 am

    The sooner we negotiate a deal with Russia the better. Ukraine is costing far too much money and not that strategically important.

  19. @gerardleahy6946

    May 2, 2024 at 9:58 am

    Europe should abandon the crazy and unnecessary green policies.

  20. @Hoert-om4pp

    May 2, 2024 at 9:58 am

    Sad that Sweden always as UNTIL now will remains sick in the global comunity eyes as it is a forced pressed yes from Hungary to sign Sweden Up for NATO memberdhip.

    Billing and it is of course a crime in itself.

    How it feels to Force a teacher to give you good graders in school, för you feel ok with yourself and celebrate after. THE big question are you proud of yourself???
    You THE Little person WHO have yo bribe, press, Force and lie TO get your goals!!!

    Mayby it is better to be faithful and give up yourself instead and ………….
    NOW and jefore is only HUMILIATION and so for it will continue forever because of this etc….

  21. @_ata_3

    May 2, 2024 at 9:58 am

    Why nobody's looking into rich people's pockets? There's the money countries need to finance and invest on public and private spending.

  22. @alexlehrersh9951

    May 2, 2024 at 9:58 am

    Ok where was austerity a failure?

  23. @jivkoyanchev1998

    May 2, 2024 at 9:58 am

    Increase taxation, lower social spending and end the stupid green new deal and you'll see how most countries will start running surpluses.

  24. @drjustin84

    May 2, 2024 at 9:58 am

    Cause it worked SO WELL the last time!

  25. @Vdogg333

    May 2, 2024 at 9:58 am

    No country recoverd from the 2008 financial crisis. Then came Covid. Clearly the international financial rules in place since WW2 are not working for ANY country, except imperial America.

  26. @peterjaniceforan3080

    May 2, 2024 at 9:58 am

    🇪🇺💶🇺🇦🫡

  27. @theconqueringram5295

    May 2, 2024 at 9:58 am

    I never knew it stopped.

  28. @mattyn870

    May 2, 2024 at 9:58 am

    Gary Stephenson explains why. The walthis being hoarded at the top.

    Capitalism is a circle its meant to go around not stop at the top

  29. @punitapillai5091

    May 2, 2024 at 9:58 am

    Thank the US and Von Der Layen for this crisis!!!!!😢

  30. @brand8590

    May 2, 2024 at 9:58 am

    This lovely lady is a very good anchor. Calm and clear. She has all the potential to be a pro. A pleasure to listen to.
    The EU hasn't even begun to realize the depth of their financial problems. Germany and Italy are demographically collapsing. Germany is going to take half of Europe with them. Germany has lost its cheap Russian energy which supported Germany's whole economic model. Losing their gas also cost them the previously huge German chemical sector. Just one result is the loss of fertilizers, which is critical. But the whole world is going to have problem with that soon. Russia's agricultural sector only and finally became viable with western technology and that's gone. These warm winters we've had belay the true problem. You guys really need to look at food supply particularly with the lost Ukrainian supply's and soon Russia's. After the US these two were the major food suppliers to the middle east and Africa.
    On top of that the Russians cannot maintain their oil supplies and equipment. The western experts have left. If the oil becomes too expensive or supplies threatened the US President has automatic authority to close all foreign sales of America's vast oil & gas reserves to others. Venezuela has destroyed its supplies, so we are looking at, at least a third of the world energy supplies disappearing.
    The middle east will then begin to blackmail (charge a fortune) to supply many parts of the world and sadly bidding wars are expected. You can work out the economic disasters yourselves.
    The US is desperately trying to forestall this even unto asking the Ukrainians to not hit Russian oil targets. The US, despite their major differences is even offering Venezuela help to fix their broken oil fields. Ya, it's that bad.
    Food and Energy shortages along with climate disasters that will become common.
    Not everyone's going to make it.
    P.S please tell your countrymen to get on with those untapped North Sea fields asap. Britain will desperately need them themselves. Norway and Britain may even save Europe.
    Or not.
    G/L

  31. @pcfirebeats

    May 2, 2024 at 9:58 am

    Maybe tax the rich and corporations, intervene in the market some times and get rid of neo-liberal policies.

    That would be a good start.

  32. @3zObafouzr

    May 2, 2024 at 9:58 am

    what's the rational behind 3%? feels like it's just a random number some economist removed from their rear end

  33. @wustafa1771

    May 2, 2024 at 9:58 am

    Nobody is caring what europe does anymore world is changed

  34. @user-uh4gd4od9y

    May 2, 2024 at 9:58 am

    Here is the solution for the European government tax the rich more heavily

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Other EU

Can Germany’s New Coalition Unite Europe?

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Germany’s new grand coalition received a lukewarm reception domestically, but across it was widely hailed. So in this video, we’ll explain how the two parties came together, what their policies are and whether they could unite the EU going forward.

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Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.

TLDR is a completely independent & privately owned media company that’s not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can’t wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks!

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Sources:

Coalition Agreement
https://www.koalitionsvertrag2025.de/sites/www.koalitionsvertrag2025.de/files/koalitionsvertrag_2025.pdf 

CDU/SPD Coalition
https://www.politico.eu/article/friedrich-merz-germany-christian-democratic-union-social-democratic-party-coalition-talks/
https://www.politico.eu/article/germany-friedrich-merz-coalition-deal-under-us-donald-trump-pressure/ 
https://www.dw.com/en/germany-cdu-csu-and-spd-announce-coalition-government-deal/live-72180120
https://www.bbc.co.uk/news/articles/cm2xxd4v6dzo 
https://www.economist.com/europe/2025/04/09/germanys-new-government-is-blandly-reassuring
https://www.lemonde.fr/international/article/2025/04/10/immigration-illegale-impots-bureaucratie-le-nouveau-chancelier-allemand-friedrich-merz-presente-son-accord-de-coalition_6593563_3210.html

Germany Opinion Polling
https://politpro.eu/en/germany/institute/ipsos 
https://www.reuters.com/world/europe/germanys-far-right-afd-tops-poll-first-time-blow-chancellor-in-waiting-merz-2025-04-09/

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Other EU

Why Italy is Changing its Blood Citizenship Laws

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Pick up a copy of our magazine Too Long: https://toolong.news/ (and get £3 off any subscription with code INFLUENCE)

In this video we’re going to look at Italy is changing its citizenship laws and how it actually may prove pretty controversial.

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Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.

TLDR is a completely independent & privately owned media company that’s not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can’t wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks!

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TLDR Celebrates 1 Million Subscribers in Every EU Language

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Buy a Copy of Too Long: https://toolong.news

A long last, TLDR EU hit one million subscribers. So to celebrate we’re speaking every official EU language (very badly) in thanks to every last one of you!

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Donate by PayPal: https://tldrnews.co.uk/funding

Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.

TLDR is a completely independent & privately owned media company that’s not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to other young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can’t wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks!

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Other EU

How Trump’s tariffs are good news for Putin

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shorts #podcast #podcastclips #politics #news #russia #trump.

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Could the Euro Replace the Dollar as the World’s Reserve Currency?

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For most of the century, the US dollar has been the dominant currency. But Trump’s policies that upended global economic order has threaten to erode the dollar’s reserve status with the Euro looking like a potential candidate for the next reserve currency.

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Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.

TLDR is a completely independent & privately owned media company that’s not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to other young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can’t wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks!

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Sources:International status of euro
https://en.wikipedia.org/wiki/International_status_and_usage_of_the_euro

ECB policymakers promoting euro as an alternative
https://www.politico.eu/article/eu-can-attract-those-who-seek-alternatives-to-the-u-s-dollar-lagarde-says/#:~:text=%E2%80%9CIt%20is%20unlikely%20that%20the,chief%20strategist%20at%20BCA%20Research.

Dollar’s confidence crisis
https://www.reuters.com/markets/currencies/deutsche-bank-says-risk-dollar-confidence-crisis-2025-04-03/
https://www.reuters.com/markets/currencies/pimco-says-has-turned-bit-more-cautious-dollar-2025-04-02/
https://www.reuters.com/markets/currencies/dollar-slides-traders-rush-into-safe-havens-after-us-tariffs-2025-04-03/

US-Treasuries sell off
https://www.ft.com/content/0005e091-930d-46ff-9e81-8591704a9282

US stock market drop https://www.sbs.com.au/news/article/how-can-trillions-just-disappear-what-you-may-not-know-about-the-stock-market/2zeoy1a67

EU debt revolution plan
https://www.dw.com/en/eurobonds-eu-plans-debt-revolution-to-finance-defense/a-71881746

German bonds rising
https://www.cnbc.com/2025/04/09/trump-tariffs-german-bonds-rise-as-us-treasury-yields-sell-off.html
https://www.reuters.com/markets/rates-bonds/safe-european-home-scared-money-seeks-german-bunds-mike-dolan-2025-04-10/ https://www.bloomberg.com/news/articles/2025-04-08/the-world-suddenly-has-a-plausible-alternative-to-us-treasuries?embedded-checkout=true

00:00 – Introduction
01:17 – Context
02:45 – Why it Looks Like the Dollar is Losing Reserve Status
04:05 – Can the Euro Replace the Dollar
07:12 – Sponsored Content

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