The illusion that all is well in the Euroland following the brutal
Greek austerity agreement this summer is soon to be rudely disrupted by a
new Eurozone crisis, this in what was hailed as the IMF and ECB
“success story”–Portugal. Very soon, perhaps in a matter of weeks, it
will become clear again, as in Greece, or in Germany in 1931, that
austerity, spending cuts and tax increases are not a way out of a
national economic crisis.
#EU #Portugal #Greece #Germany #Merkel
