Are we facing the end of austerity?
Leaders met at the G8 Summit last weekend in Camp David, Md. to discuss a number of pressing issues, including the financial crisis in Europe and austerity measures.
As Europe's economy continues to suffer, voters are turning against the austerity measures put into play in many European countries after the 2008 financial collapse. How have the austerity measures played out in terms of economic growth? Does this backlash against spending cuts mean the end of austerity policies not only in Europe, but also in America?
Martin Wolf, associate editor and chief economics commentator at The Financial Times, will join The Daily Circuit Wednesday to discuss the end of austerity.
"In the current circumstances in Europe, I do not expect these programs to generate a significant recovery," he told NPR, despite austerity measures working in the past.
Julia Coronado, chief economist for BNP Paribas, will also join the discussion.
KERRI'S TAKEAWAY
It's not a debate about austerity versus growth; it's a combination of both. It's currently a Catch-22: Needing growth, which requires investment, but there's no money to invest.
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