April 30, 2012

There Is No Alternative to Austerity

Gideon Rachman, Financial Times

AP Photo
Mr. Hollande says that he will replace austerity with growth. Why didn’t anybody think of that before? Unfortunately, a vacuous slogan is underpinned by ineffectual proposals. Mr Hollande’s programme stresses small, badly-targeted boosts to public spending, while virtually ignoring the structural reforms that are the only route to sustainable growth.
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TAGGED: France, Euro, Francois Hollande, austerity

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