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deficit

This tag is associated with 5 posts

How the EU’s budget straight jacket was born

In May 1981 in less than an hour Guy Abeille, then senior official of France’s Budget Directorate, invented the EU’s infamous deficit-to-GDP figure of 3 %. And the European austerity fest was born. Guy Abeille is known as “Monsieur 3%” . He’s the inventor of a concept signed up to and repeated ad nauseam by … Continue reading

From expansionary austerity to expansionary precariousness: the latest doctrine is another European illusion

Interview with economist Emiliano Brancaccio / Micromega The deregulatory labour reforms of Italy’s new PM Matteo Renzi will fail because it is proven that “more casualisation does not mean more jobs”, argues economist Emiliano Brancaccio. Indeed, ‘the wager on the race to the bottom could bring the wage deflation to the whole of the EU, and deflation … Continue reading

The Past Masters of Error Pontificate Again

By Juan Torres López The Organization for Economic Cooperation and Development (OECD) has just published its new report on the Spanish economy that makes predictions about our immediate future and presents proposals, it says, to exit the crisis. The forecasts pour a bucket of cold water on the Spanish government because they say that we … Continue reading

EU leaders’ declaration on growth and jobs only empty words, says ETUC

Council fails to deal with sustainable growth and jobs, says European Trade Union Confederation More

Spain: Public Spending – Not Guilty

Falling revenues, not excessive spending at root of deficit, a new report shows Excessive public spending is not responsible for the poor state of Spain’s public finances. Instead it is the fall in revenues that came amid cuts to spending in Spain and elsewhere. This is the conclusion of a new report by Fundacion 1 … Continue reading

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