This documentary is made up of five episodes that analyze the ongoing Euro crisis. When the Euro was launched there were high hopes for all but today we can see that the plan failed miserably. Never before has there been such an imbalance between the rich and the poor. Buy Buy Europe examines how the situation got out of hand and who exactly the winners and losers are the Euro crisis.
In the first episode, “A Bank Crisis a Week,” we begin by taking a look at the first dominoes that fell in the crisis, when the Eurozone’s financial bubble burst. We learn how the banking sector was the biggest benefactor during this time with over 9,000 billion dollars being pumped into the financial system to bailout the banks. That amount is twenty times the GDP of Belgium.
Then the second episode, “Austerity till the Grave,” we learn of the dropping industrialization rates. The rate in France has dropped 10% since 2008, 22% in Spain, and an impressive 25% in Italy. Apparently Europe is following the exact same disastrous course it followed in the ‘20s and ‘30s. Other startling statistics are revealed such as the youth unemployment rate of 28% Lithuania, 37% in Portugal and Italy, 52% in Greece and a frightening 57% in Spain.
The third episode, “Tax Haven Europe,” reveals that the many Greek multimillionaires evade close to 30 billion Euros in taxes yearly and some of the biggest corporations in Europe pay only about 4%. Economists have determined that a sustainable rate for these corporation would be closer to 36%.
In episode four, “Bratwurst, Lederhosen, and Minijobs,” you’ll find out that one out of every five employees in Germany only makes between 4 and 6 Euros an hour. To make matters worse, 35% of the jobs available in Germany are only temporary jobs. What caused such a dire job market in Germany?
The fifth and final episode, poignantly titled “What Kind of Europe do We Want?,” we take a step back and conclude that the current state of affairs in Europe is not okay. The message is clear: it’s time to build a Europe that belongs to its citizens, not to the financial and industrial powers.