The idea, presumably, is that the crisis countries are in trouble because they’re groaning under the burden of high government spending. But the facts say otherwise.
#Austerity
Contention of the Day – Cut to the Bone
Ryan Avent in The Economist: Britain’s conservatives have gambled heavily. If deep budget cuts amid economic weakness send the economy plunging back into recession, the government may be unable to make the cuts stick, and austerity could be discredited around…
Posted in Miscellany Tagged with: Austerity, Britain, Europe, Financial Crisis, Fiscal Policy, Ryan Avent, Tories