Read all posts for ‘austerity’

When economic growth is not a given anymore, how can democratically elected governments trigger growth, maintain the welfare state and keep public spending down all at the same time? The answer is easy: they simply can’t. European welfare states have come to a crossroads. On the one hand, private investors […]

Protests, Poverty and Prosperity in Perspective 2012 started with a bang in Bucharest. The usually sedate Romanian capital erupted with protests the likes of which had not been seen for at least a decade. At first glance it seemed that people were angry with new healthcare legislation and the ousting of a […]

With an unemployment rate of around 5%, low inflation, low debt, low interest rates and a ‘AAA’ credit rating, the Australian economy has been the envy of many other developed nations since the global financial crisis (GFC) struck in late 2008.

10-year old Dayana went out onto a balcony which suddenly collapsed. Her blood splattered all over the yard of the “Youth” tuberculosis sanatorium in Simeyz (on Ukraine’s Сrimean peninsula). After five hours of struggle, the doctors declared her dead. Sounds like a cut from a horror movie, doesn’t it? But […]

There is a striking contrast between the breadth and scope of austerity measures in Europe and citizens’ perceptions of them. I recently moderated a debate organized by the Bertelsmann Foundation on what Europe can learn from Latin America in terms of managing a debt crisis. The audience was composed mostly […]