Monday, April 22, 2013

Roubini: Eurozone Austerity is making things worse

The austerity in the Eurozone, in the absence of policies to boost growth, will make the crisis worse rather than fix it, The Eurozone peripheral countries need "less front-loaded fiscal austerity" while Germany should start a fiscal stimulus programme to kick-start growth, "Today in the Eurozone there is absolutely no talk about a growth agenda" while there is plenty of discussion about banking and fiscal union, and in the absence of economic expansion, "you'll have eventually social and political backlash against austerity," " Roubini, said during an IMF conference in Washington under the title"Rethinking Macro Policy II: First Steps and Early Lessons .
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