In 2012, Nobel Prize Winner Joseph Stiglitz had a very strong view of the Eurozone austerity plan…He described it as a “suicide-pact.” Nobody listened to him at the time and nobody is listening to him now.
He noted that imposing austerity on the citizens of the EU would do nothing more than lead to the collapse of those very same economies.
The EU is in a slump, austerity can only bring us down. Yet, the politicians that we have voted into power seem to believe that its austerity, contrary to what the past has shown us; that will get us out of that rut.
This is a quick summary of the article originally published on ToTheTick.