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European austerity: Turn or TINA?

Tilford, Simon, (2013), “European austerity: Turn or TINA?”, www.cer.org.uk, 25 Απριλίου.

Will European governments reverse the austerity course that has done so much to damage their already enfeebled economies? With the revelation of mathematical errors in the work of two Harvard economists, Carmen Reinhart and Ken Rogoff – who had claimed to show that economic growth falls off a cliff once a country’s ratio of debt to GDP reaches 90 per cent – another of the intellectual underpinnings for the current strategy has been swept away.