Philip Arestis and Malcolm Sawyer — Why Does the Euro Area Have Such Low Growth and High Unemployment?

Summary:
There are no doubts, and many reasons, for the poor performance of most of the euro-area economies. Yet the austerity policy agenda (from the Stability and Growth Pact, the “fiscal compact,” etc., with the drives for balanced budgets), the pursuit of “structural reforms,” and the failures to address the current account constraints on euro-area member countries have all contributed to the lacklustre economic performance. In short, entrenchment of neoliberal policy coupled with a failed currency union.Triple CrisisWhy Does the Euro Area Have Such Low Growth and High Unemployment? Philip Arestis and Malcolm Sawyer

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Mike Norman considers the following as important: EZ

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