This is Your Country. This is Your Country on Austerity.

[The Dude]

[PoS]

I said they came close to real austerity. You need to check in in the remedial reading comprehension class at Venice Community Adult school.

[The Dude]

So basically, Latvia is closer to "real" austerity because they slashed spending and raised taxes as they got IMF and ECB bailouts to pay their way than the UK which just cut some spending and raised taxes with no bailout.

Got it.

[Zeugma]

[Indy]

So Europe is failing miserably by hey, there's always... Latvia!

[J.K. Gregg]

[The Dude]

[Indy]

This is why I hate ideologically-driven economic policy.

It's all about the means, regardless of if the ends are ever achieved.

As we see here, austerity has bombed and people are still pimping it.

It's like the New Coke of economic policies...

[Dobby]

[Kane]

Eh? It's legitimacy is pretty tarnished as is. It's approached the European crisis in the same fashion as it has a third world nation that lacks a central bank. IMO it's been attempting to regain legitimacy among European counterparts by adopting counterintuitive policies that are politically acceptable. It's contending with the Bundesbank.