LONDON (AP) — Wearing her diamond-studded crown, Queen Elizabeth II arrived at Parliament in a gleaming horse-drawn carriage to deliver a message of austerity and making do with less in troubled economic times.
The speech laid out the agenda for Britain's new coalition government — but its theme of slashing a record deficit and spurring fragile growth resonated across Europe's ailing economies.
Governments across the continent announced more budget cuts Tuesday, even as their stock markets and the euro were beaten down by investors fearful of stagnant growth and soaring deficits. Even regional powerhouses like France and Germany, with relatively vibrant economies, are beginning to clamp down on spending.
There are no easy solutions. Belt-tightening is an urgent priority but comes with the real danger of stifling growth and launching a double-dip global recession that some experts fear could bring about a "lost decade" like one Japan experienced in the 1990s...
[Webmaster - This is the perfect example of "Royal Hypocrisy" at it's finest... From beneath her diamond-studded crown, the Queen tells her "subjects" that THEY must learn to make do with less...]