By Dave Anderson:
Via the BBC on Euro-zone economic stagnation:
Both French and German leaders, along with the European Central Bank, are putting pressure on so-called peripheral economies to extend austerity measures to try to balance their budgets.
Major economies are also making cuts...
Austerity and crackdowns are the new normal.
And those policies aren't working if the assumed goal is to actually see growth and stability:
The [German] economy grew by just 0.1% in the quarter, according to figures from the national statistics office. Growth in the eurozone as a whole also slowed...eurozone economic growth slowed to 0.2% in the second quarter, down from 0.8% in the previous three months....Growth in Spain slowed to 0.2% from 0.3%, while the Italian economy picked up slightly, growing by 0.3% against 0.1% in the first quarter
Contractionary austerity is much like partially pregnant or mostly a virgin -- an infantile attempt to deny reality.