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Austerity policy on trial

Leading European politicians are campaigning for fiscal stimulus measures instead of austerity, the EU is more lenient with deficit deviants and crisis-hit countries are gaining more time to repay their loans. Is Europe abandoning its austerity policy in view of the ongoing recession?

Wiener Zeitung - Austria | Friday, 26. July 2013

Europe's budding recovery needs fertiliser now

A number of signs are pointing to tentative economic recovery in Europe. In Spain, for example, unemployment levels dropped in the second quarter of 2013 for the first time in two years, and the French finance minister announced 0.2 percent growth for the same period. Now everyone just has to turn their backs on austerity at last, writes the state-owned liberal Wiener Zeitung: » more

Turun Sanomat - Finland | Wednesday, 24. July 2013

Carrot and stick for crisis countries

It will take more than just stringent austerity to help the crisis countries, the liberal daily Turun Sanomat writes, welcoming the Eurozone countries' decision to show more flexibility in tackling the economic crisis: » more

Delo - Slovenia | Friday, 31. May 2013

Tough reforms a must for crisis states

The EU Commission on Wednesday granted more time to six euro countries, including Slovenia, to reduce their budget deficits. At the same time EU Monetary Affairs Commissioner Olli Rehn called for more growth-enhancing structural reforms. Such reforms are unpopular with governments but unavoidable, the left-liberal daily Delo comments: » more

Main focus of Thursday, 30. May 2013

EU wants to give deficit sinners more time

The EU Commission wants to give six euro countries more time to reduce their debts, allowing them to introduce growth-stimulating reforms. The sanctions on excessively ... » more

Corriere della Sera - Italy | Thursday, 30. May 2013

Rome must not sit back and relax

The EU deficit procedure against Italy is to be dropped. But the recession continues to restrict the government in Rome's room for manoeuvre because the growth forecasts for 2014 are 0.7 percent at most, the liberal-conservative daily Corriere della Sera writes: » more

Neue Zürcher Zeitung - Switzerland | Thursday, 30. May 2013

Commission eases Stability Pact

The recommendations from Brussels read like a lame and obscure bureaucratic document that effectively cancels out the Stability Pact, the liberal-conservative Neue Zürcher Zeitung points out: » more

Hospodárske noviny - Slovakia | Thursday, 30. May 2013

Obedient savers left looking dumb

The relaxation of the EU's hitherto so stringent austerity policy is regarded with mixed feelings by the liberal business daily Hospodárske noviny, which notes that the Slovakians must feel like they've been made fools of: » more

Večer - Slovenia | Thursday, 30. May 2013

Leniency for Slovenia only until German election

Slovenia has escaped an excessive deficit procedure for the time being after the EU gave it two more years to get its budget deficit under control. The conservative daily Večer suspects that the upcoming elections in Germany are also behind this show of leniency: » more

Financial Times - United Kingdom | Wednesday, 29. May 2013

Austerity policy the result of a misdiagnosis

The fact that the EU Commission has given several EU states more time to achieve their deficit targets is a welcome indication that the Union is moving away from austerity, the liberal daily Financial Times writes: » more

El País - Spain | Thursday, 16. May 2013

Austerity policy prevents Europe's recovery

The economic performance of the Eurozone dropped by 0.2 percent in the first quarter of 2013, as the Eurostat EU statistics agency announced on Wednesday. The austerity policy is standing in the way of a recovery, the left-liberal daily El País concludes: » more

La Stampa - Italy | Tuesday, 30. April 2013

Letta's strategy won't work out

In his policy statement Letta promised to combat the crisis afflicting the country by lowering taxes, among other measures. He is secretly hoping to ease the austerity policy, the liberal daily La Stampa suspects, adding that this hope may be dashed: » more

El País - Spain | Tuesday, 30. April 2013

France must stop Germany

After France's Socialists condemned Germany's crisis policy in a policy paper on the weekend, German politicians have spoken out in defence of austerity and stressed ... » more

openDemocracy - United Kingdom | Sunday, 28. April 2013

Better hold back on military spending

Criticism of the strict belt-tightening measures in Europe continues apace. EU Commission President José Manuel Barroso recently stated in Brussels that austerity has reached its limits. Frank Slijper of the Dutch organisation Campaign against Weapons Trade urges in the blog Open Democracy that cuts should be made above all in military spending: » more

Le Soir - Belgium | Friday, 26. April 2013

Social cohesion in danger

The high unemployment figures in Europe could lead to a popular uprising, the liberal daily Le Soir warns: » more

BBC - United Kingdom | Tuesday, 23. April 2013

Barroso's doubts about austerity justified

EU Commission President José Manuel Barroso spoke out on Tuesday in favour of easing the strict cost-cutting measures for ailing EU member states. The BBC's Europe editor Gavin Hewitt senses on his blog an admission that belt-tightening was the wrong strategy: » more

Diário Económico - Portugal | Friday, 19. April 2013

Austerity instead of taxes will help Portugal

After a marathon meeting of its Council of Ministers, Portugal's government announced new cuts of around 800 million euros on Thursday. Cutting spending in all areas of the public sector is the right approach, the liberal business daily Diário Económico comments: » more

Il Sole 24 Ore - Italy | Wednesday, 17. April 2013

Sick Europe needs to change its course

The global economy will grow by 3.3 percent this year, while the economy of the Eurozone will contract by 0.3 percent, according to IMF forecasts put out on Tuesday. Europe urgently needs to correct its austerity policy, the liberal-conservative business paper Il Sole 24 Ore writes: » more

Imerisia - Greece | Monday, 15. April 2013

Berlusconi makes Berlin sweat once again

In the event of fresh elections, the alliance led by Italy's ex-prime minister Silvio Berlusconi would claim around a third of the votes and emerge as the strongest party, according to several surveys carried out last week. The left-liberal business paper Imerisia writes that Berlin in particular fears a comeback by Berlusconi: » more

Irish Examiner - Ireland | Tuesday, 16. April 2013

Extra time good news for Ireland

At their meeting in Dublin on Friday the Eurozone finance ministers agreed to give Ireland and Portugal seven additional years to pay back their emergency loans from the euro bailout fund. The left-liberal daily Irish Examiner welcomes the decision: » more

i - Portugal | Friday, 12. April 2013

Help for Portugal through the back door

In a bid to secure more time to repay the country's bailout loans, Portugal's Finance Minister Vítor Gaspar plans to reiterate his commitment to the austerity policy in Dublin. The liberal daily Jornal i is confident that despite the uncertainties arising from the Constitutional Court's ruling Portugal will receive support: » more

Kauppalehti - Finland | Wednesday, 10. April 2013

Only growth can save Portugal

Portugal must rethink its ruthless austerity policy if it wants to emerge from the recession, the business paper Kauppalehti urges: » more

The Guardian - United Kingdom | Wednesday, 20. March 2013

Osborne's budget plan won't work

The British Chancellor of the Exchequer George Osborne presented his budget in parliament on Wednesday and is sticking to the austerity policy in the face of the 7.4 percent deficit. In the eyes of the left-liberal daily The Guardian, his budget package is doomed to failure: » more


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Further articles on the subject » Fiscal Policy, » EU Policy, » Europe
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