Europe: Italy’s call for a stimulus – structural reform trade-off will happen

Summary: Backloaded austerity is the defining paradigm at work in Europe right now. Italian Prime Minister Enrico Letta has called for this paradigm to be bolstered by fiscal stimulus incentives as a quid pro quo for structural reform. I believe he will get his wish.
The editorial by Enrico Letta which ran today in Project Syndicate is important regarding the policy debate in Europe. The headline reads "Europe’s Responsible Solidarity" but I think the clear message is that in Europe responsible...


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