The EU has started disciplinary proceedings against seven member states, including France and Italy, over their accumulation of debt. Brussels had suspended debt regulations to help countries cope with COVID-19.
Austerity is always unpopular and is mainly directed at meeting arbitrary deficit rules that have little practical relevance. The cost is a weakened economy, people getting poorer, public infrastructure falling apart, climate goals being missed, and more. All just because beaurocrats are afraid of leaving too much debt to our children. Yeah maybe, but is that worth making everything worse?
Austerity is always unpopular and is mainly directed at meeting arbitrary deficit rules that have little practical relevance. The cost is a weakened economy, people getting poorer, public infrastructure falling apart, climate goals being missed, and more. All just because beaurocrats are afraid of leaving too much debt to our children. Yeah maybe, but is that worth making everything worse?