Reply To: Austerity has failed. An open letter from Piketty to Merkel
You are comparing difficult budget cuts in Ireland, Latvia and Spain with those in Greece? Really? I weathered the cuts here in Spain and I sort of noticed them (and I am low low income). The only reason why Spain (and the Baltics and Ireland) rebounded was because they refused (or their population did not allow them) to implement full out austerity which Germany and Brussels screamed armageddon would happen if radical austerity wasn’t enacted. It wasn’t and…lo and behold…their economies didn’t collapsed…they have rebounded. Remember those alarm bells? Berlin and Brussels doesn’t.
Greece implemented a brutal set of full out austerity (something people in Dublin or Lisbon would not recognise) and their economy collapsed. Now they are being asked to utterly gut what little is left in their virtually inhuman social programs budget. Sounds like a plan. No doubt their economy will recover when the already growing number of homeless and unfed grows while something like a “job” become a memory of the past.
Lets throw Greeks into the gutter and let them become the Baltimore or Detroit of the EU.
