EU Daily | Europe’s Recovery Almost Stalls as Investment Drops
March 04, 2010 at 08:41 AM EST
Not a good time for Greece and others to be cutting agg demand with spending cuts and tax hikes, but that’s what the euro’s institutional structure ‘demands.’ The risk is this fiscal constraint employed to reduce national deficits will further reduce demand, which causes revenues to fall further and transfer payments to increase further, resulting in even [...]