Investor's Business Daily (editorial): EU Voters Nix Austerity, Though It's Not Been Tried
The stunning outcomes of elections in France, Greece and Italy were called "a sweeping repudiation" of austerity. But how can you repudiate something that's never been tried?
The EU tried austerity, but it didn't work. The media (pozn.S.: obzvláště v Americe se strhla lavina s články tohoto obsahu, vedená zejména Krugmanem v NY Times) and Europe's leftist politicians have made that their refrain, and apparently a lot of European voters now agree.
The only problem: The idea of EU austerity is a myth.
Starting in 2008, most governments enacted large stimulus packages. Sadly, stimulus in Europe, as in the U.S., didn't work. As proof, the EU has now entered into its second recession in four years, with soaring debt, rising unemployment.
Average government spending by EU nations today stands at about 49.2% of GDP — vs. 44.8% in 2000.
On its own website, the EU itself says that in 2011, 23 of the 27 nations in the EU increased spending. This year, 24 of 27 will do so. |
Registrace nového uživatele 
