Thursday, December 1, 2011

Europe's Race to the Bottom: How Austerity is Killing the Euro

Europe's Race to the Bottom: How Austerity is Killing the Euro
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  1. JKHCDecember 1, 2011 at 5:32 AM

    This is a real life dilemma. In order to be able to repay a country's debt it must not continue to spend beyond its means. Yet the very act of reducing spending is also having adverse effects on its consumption and in turn creates more unemployment and less tax for the government. It is a tricky balance. Increasing the efficiency of the work force and utilization of existing capital is another way out but this is again difficult to achieve.

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