Matías Vernengo

Europe’s adjustment: The misadventures of austerity

Austerity to reduce spending and decrease the need for imports, and liberalization reforms to reduce real wages and promote internal devaluation have been going on for a while in the European periphery to promote rebalancing, that is, to reduce the current account deficits and allow for continuous servicing of the debt.

September 7, 2012

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