Where exactly is the austerity in Europe?

As you can see on this chart:

These countries still spend more than pre-recession levels
France and the U.K. did not cut spending.
In Greece, and Spain, when spending was actually reduced — between 2009–2011 — the cuts have been relatively small compared to the size of bloated European budgets. Also, meaningful structural reforms were seldom implemented.
As for Italy, the country reduced spending between 2009 and 2010 but the data shows and uptick in spending 2011. The increase in spending represents more than the previous reduction.

Advertisement

Join the conversation as a VIP Member

Trending on HotAir Videos

Advertisement
Advertisement
Advertisement