Blyth on Bloomberg: 2012 to Bring 'Austerity Binge'
January 3, 2012
Mark Blyth
Predicting a “combined austerity binge,” with 11 of the Eurozone’s 17 countries poised to slash their budgets in hopes of averting financial crisis, Institute Professor Mark Blyth today professed Europe’s austerity policies “not much of a solution.”
“We can’t all simultaneously cut our way to growth because someone has to be spending to maintain economic growth,” he said in an interview on Bloomberg TV.
“We can’t all simultaneously cut our way to growth because someone has to be spending to maintain economic growth,” he said in an interview on Bloomberg TV.