Greece made largest fiscal adjustment, says EU paper published ‘by mistake’.
Brussels – Greece performed the largest fiscal adjustment in the eurozone between 2011 and 2013, according to a research paper by the European Commission’s Directorate-General for Economic and Financial Affairs, which was apparently published by mistake on Monday. Greece made largest fiscal adjustment, says EU paper published by mistake
A simple comparison between the US approach and the EU approach to economic recovery is ample proof that Keynes was correct in his assessment of macroeconomic processes relative to managing economies of scale in a globally connected market. Austerity moves inflicted unnecessary harm on economies and peoples. When consumers loose faith in markets and markets contract soverigns are the only source of liquidity left. Governments must prime the pumps of the economy, albeit in a deliberate thought out way, in order to jump-start the economic engines.
Fiscal-Consolidation-Paper
Spending other peoples money is always fun !!
Take a look at the picture of Angela Merkel :
“Angela Merkel in search of a controversial study that attempted to eliminate short José Manuel Barroso. The European Commission wanted just a week, it was in just before the annual insolvency, do not provoke the largest creditor willfully.”
http://deutsche-wirtschafts-nachrichten.de/2013/10/24/angst-vor-merkel-barroso-laesst-deutschland-kritische-studie-verschwinden/