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German Call for Austerity Has Europe Grumbling

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WENN SIE ETWAS SEHAN, ETWAS SAGEN
"To protect the value of the euro, satisfy investors and appease Europe’s economic taskmaster, Germany, the region’s most heavily indebted nations consider that they have no choice but to slim down," according to the New York Times. "But some argue that Berlin is pressing too hard, and that the region’s new fixation on debt has created a “cult of austerity” that could make it harder to recover from the slump. Drastic budget cuts, if carried out as promised, could set off deflation, send already high unemployment rates surging, bring governments down and even create popular opposition to the euro, critics say."
SOURCE:   New York Times

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