[lbo-talk] Strike against austerity cuts brings Portugal to a halt

Michael Pollak mpollak at panix.com
Wed Nov 24 06:20:32 PST 2010


On Wed, 24 Nov 2010, Wojtek S wrote:


> http://www.bbc.co.uk/news/world-europe-11825643
>
> [WS:] It seems that which party is in power makes little difference as
> far as austerity measures are concerned.

If they instead to stay in the euro in its present form, individual countries in this position truly have no choice. You can't generalize from this case to non-euro case. The US by contrast is economically perfectly free to be fiscally expansive.

Michael



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