WIFO: Budget Consolidation in the EU is Not Sustainable

Politics ♦ Published: November 29, 2010; 12:10 ♦ (Vindobona)

WIFO criticizes the consolidation programs of the individual EU countries for being easily enforceable, but containing hardly any sustainable measures.

WIFO: Budget Consolidation in the EU is Not Sustainable / Picture: © WIFO

According to WIFO (Austrian Institute of Economic Research), the budget consolidation measures that are being implemented in some EU countries lack comprehensive structural reforms in public expenditure as well as in tax systems. Problems that already existed before the economic crisis, or even contributed to it, are largely being ignored.

Although some specific strategic…

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