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European Commission's Own Economist Argues Austerity Made Things Worse

by TLTheLiberator
5 replies
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European Commission's Own Economist Argues Austerity Made Things Worse
  • Profile picture of the author ThomM
    The economic pain the IMF, EC, and others forced on bailed-out Eurozone countries was exacerbated by the choice to cut spending in healthier economies like Germany's.
    And there lies the problem. They decided to use austerity cuts in countries that where doing well and bailing out the countries that needed to cut their spending.
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    • Profile picture of the author Sumit Menon
      Originally Posted by ThomM View Post

      And there lies the problem. They decided to use austerity cuts in countries that where doing well and bailing out the countries that needed to cut their spending.
      Good catch!
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  • Profile picture of the author Kay King
    I question whether the austerity programs have been in place long enough to judge their long term effect. But that isn't the point of that article anyway.

    Half of that article has nothing to do with the EU - it's a setup to the new talking points of the next three months:

    -reduced spending is bad
    -we should not cut or reduce funding anywhere
    -higher taxes are good
    -debt is not a problem so don't worry about it

    It's the beginning of the political argument of the next few months and the push for more tax increases and more spending.
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  • Profile picture of the author HeySal
    People can buy one way tickets to Mars now. We should increase spending by buying every politician in the world a ticked.................all problems solved...............here anyway. Of course, Mars will be lifeless again in a few years.
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  • Profile picture of the author garyv
    Originally Posted by TLTheLiberator View Post

    European Commission's Own Economist Argues Austerity Made Things Worse
    Well duh... That's like the Fat lady saying that her diet made things worse.
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