The normally upright Dutch face a fiscal axe—and possibly an early election
....
The extra cuts are needed to deal with what forecasters say would otherwise be a 2013 budget deficit of 4.5% of GDP, way over the 3% limit enshrined in the euro zone’s new fiscal pact.Read it at The Economist (UK)
A very un-Dutch deficit
3 comments:
Yet further evidence that the "deficit rules" in the EMU treaty are stupid. Even "price stability" would have been an improvement, because under certain conditions (like today), high deficits will not necessarily lead to inflation
Tom this is a great little video by FDR on social security and UE, etc. This to me sounds like the gap between MMT and MMR in many respects.
http://www.youtube.com/watch?v=SUZGkNAUSvY&feature=player_embedded
Is there a way I can get comments emailed to me?
Thanks, Mario.
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