Advocates of austerity haven't disappeared from the scene. Key leaders such as Germany's Chancellor Angela Merkel still espouse the virtues of balanced budgets."Budget consolidation, structural reforms and growth are not contradictions but require each other," Merkel told reporters after the summit of 27 EU countries on Thursday. "It is necessary to trim the deficits to promote growth and investment."
Europe Eases The Austerity Whip _ A Little
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