Austerity has measurably damaged Europe: here is the statistical evidence
|11/29/2018||Posted by BusinessMediaguide.Com under General World News||
- The Institute of International Finance says austerity probably damages economies trying to recover from the great financial crisis.
- Since 2008, GDP growth in the US has been 10% greater than in Europe, the IIF says. In terms of GDP growth per capita, the reduction was 5%. Fiscal tightening in Europe was the main difference.
- Trend growth in the US was double what it was in Europe following the financial crisis, the IIF says. Prior to 2008, they had been the same.
- “Fiscal austerity is a mistake,” IIF Managing Director & Chief Economist Robin Brooks tells Business Insider.
Since the great financial crisis read more >>>