We need a new social contract – not just 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 […]
Read all posts for ‘budget deficits’
No real austerity in Slovakia
Even in previous decades during years of high growth, Slovakia still ran up big deficits. To enter the euro area a country has to meet a reasonable set of criteria known as the Maastricht criteria. This means that a country which gives up its local currency must keep its deficit […]
Austerity: Less is More?
What can the experiences of people and communities tell us about the value of austerity measures? Have austerity policies exacerbated inequality in our societies, or rendered us all more equal? How do people in different countries view austerity policies?