Posted by WARREN MOSLER on March 1st, 2012
Even as they work to fix the solvency issues, the austerity policies continue to work to weaken growth and increase the deficits they are trying to reduce, which sustains the solvency issues.
Euro-Region Manufacturing Output Contracts for Seventh Month
German Machine Orders Fell in January as Domestic Demand Waned
French Unemployment Rate Jumps as Economy Stalls on Euro Crisis
French Consumer Spending Drops as Job Losses, Budget Cuts Bite
Italy’s Jobless Rate Surged in January to Highest Since 2001
Monti Expects Firewall Deal This Month as Crisis Abates