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In the next Brussels summit, only the EU officials and Germany are likely to emphasize primarily financial consolidation. (Photo: owly9)

Why austerity is failing in Europe

Until recently, Brussels has supported primarily front-load austerity measures.

When President Hoover tried similar policies in 1930s America, a severe recession morphed into a devastating Great Depression. Is Europe following in the footprints?

On Monday (11 March), the President of the European Commission Jose Manuel Barroso, urged the EU leaders to stay the course on debt reduction and economic overhauls.

Ireland and Portugal have benefited from tough turnaround program...

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The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.

In the next Brussels summit, only the EU officials and Germany are likely to emphasize primarily financial consolidation. (Photo: owly9)

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Author Bio

Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.

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