Montag, 2. April 2012
The Atlantic - In da face !!

"Austerity has made these bad choices worse."

Really ?
Let us take the object of economic agitprop: the BELL.

They had 2009 a budget deficit of 4,3% (Bulgaria), 2,0% (Estonia), 9,7% (Latvia), 9,5% (Lithuania).
2011 the budget deficits were 2,5%, an estonian surplus of 0,8% of GDP, 4,2% and 5,0%.

Austerity- "It doesn't work" - led to growth rates of 2,2% (Bulgaria), 8% (Estland), 4,5% (Latvia), 6,1% (Lithuania).

In the EU27, several countries reduced their unemployment during the last year, i.e. Austria, Belgium, Czech Republic, Germany, Estonia, Iceland, Latvia, Lithuania, Romania, Sweden, Finland. Almost no developement in the last six months we find in countries like Netherlands, Slovenia, Slowakia, Hungary, Ireland, Denmark, Luxembourg.

How is this possible in an era of "disaster" ?

The negative trend in EA17/EU27 is a result of the ongoing disputes concerning financial policy - entrepreneurs are nervous, consumers reserved, (greek/italian) depositors try to protect their savings and investments. The unemployment data are a "snapshot" and I´m sure we will see better numbers in the next six months.

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