The EU's growth killing austerity drive

The obsession with austerity has become self defeating. The downward spiral where Greece's missed targets prompt even greater cuts is destroying any chance of a rebound. Now Spain appears to be heading down the same path.

FT.com

We have reached a point where the policies adopted to resolve the eurozone debt crisis are causing more damage than whatever may have caused the problems in the first place. This is painfully obvious inGreeceand increasingly so inSpain.

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