austerity (Photo credit: 401K)

There is an interesting blog from the Economist. Check it out!

The euro crisis: Yes, there is austerity | The Economist.

Regular readers of this blog will know that I am anti-austerity,  frequently arguing that there has been too much austerity and too quickly. Whilst I support strict budget discipline, it should be a medium term target. Short term, more emphasis should be placed on stimulating growth, in my view.