A good feature in the NYT reports that all of the austerity measures undertaken by the European Union are starting to backfire in the face of pro-cuts politicians. The people are now too unhappy with all of the “fiscal consolidation” and elections are soon coming up for some important leaders, like Germany’s Angela Merkel. So now it looks like these important nations will be turning to stimulation, rather than consolidation, too fight high employment and general economic stagnation.
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