To err is human, but persevere with what is wrong is not. However, that is what European leaders and EU economic and financial authorities would like us to do. Since 2010, the number of austerity packages increased in Europe in order to deal with the sovereign debt crisis and to reassure the financial markets.
The measures adopted by governments in Europe, as well as European institutions’ recommendations are mainly of three types: reform of social security, privatizations, freezing of salaries and reduction of the number of employees in the public sector. Social spending cuts are planned and structural reforms imposed: rise in retirement age, more flexibility of the labour market, reduction of unemployment benefits in order to make work more attractive, mandatory work for people receiving unemployment assistance, strengthened competition in health and social services.