Tuesday, May 15, 2012

Roubini : The Eurozone has an Austerity Strategy but no Growth Strategy

Nouriel Roubini : "Right now The Eurozone has an austerity strategy but no growth strategy," he observed recently. Without that, Roubini said, austerity and reform become "self-defeating" — not only will the absence of growth worsen government deficits, but "the social and political backlash eventually will become overwhelming." - in Los Angeles Times
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