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WIFO: South Europe Needs Change in Strategy

Published: December 12, 2012; 19:33 · (Vindobona)

The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.

WIFO: South Europe Needs Change in Strategy / Picture: © Vindobona.org

Today, WIFO presented its research project “Welfare, Wealth and Work for Europe – WWWforEurope” which was developed on behalf of the Commission of the European Union.

According to Karl Aiginger, director of WIFO, the austerity strategy of Spain, Greece and Portugal was not successful. Four years after the beginning of the financial crisis, the budget deficit reaches about…

This article includes a total of 218 words.

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