Europe Has A Recession Strategy When It Needs A Growth Strategy

Dr. Doom does not mince words. In this article he claims that fiscal austerity is necessary after growth has been restored in Europe. The imposition of austerity during a period of slowing economic growth is recipe for recession. Moreover, austerity plans have not increased the willingness of investors to purchase the debt of countries in recession. Sovereign debt is becoming more expensive in the distressed countries. He predicts that social unrest is bound to be disruptive as well.