The Phaserl


EU Diminishes Austerity: Is It a Trend Yet?

from The Daily Bell:

European countries to be allowed to ease austerity… The European Commission has said it will allow some EU member states to slow their pace of austerity cuts, amid concerns over growth. France, Spain, Poland, Portugal, the Netherlands and Slovenia are all being given more time to complete their austerity plans. France will get two more years to bring its budget deficit below 3% of GDP. Commission president Jose Manuel Barroso said the extra time must be “used wisely” to lift competitiveness. − BBC

Dominant Social Theme: Everything is just fine in the EU. We are making some minor adjustments.

Free-Market Analysis: Again we note a shifting of the EU conversation. The implacable authoritarian rigor of the Eurocrats is moderating, and we believe it is because the EU economy is in such wretched shape that its leaders fear outright rebellion.

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