LISBON | By Diário de Notícias via Presseurop | The International Monetary Fund (IMF) believes that austerity measures taken until now are sufficient to fulfill the deficit targets set for this year and the next, but anticipates more cuts for 2015, writes Diário de Notícias.
SAO PAULO | By Marcus Nunes | Some economists make the now conventional mistake of ascribing the 1937-38 recession to “austerity”. It was a classic monetary tightening (gold sterilization mostly) induced recession.
LUGANO | By Andrea Terzi, professor of Economics at Franklin College | All that is required is a political commitment that the euro is the currency of Europe and that it should be distributed in a sufficient volume to sustain overall growth and employment.
MADRID | By Luis Arroyo | Since Quantitative Easing programmes began, the dollar has been strengthened, that is, its price has gone up against the most used currencies in the international markets.
LONDON | By Victor Jimenez | That the CBI has aired a word in favour of their smaller colleagues reveals the extent to which the real economy strives to free itself from the anti-pro austerity meaningless conflict.
LISBOA | By José Alves via capitalmadrid.com | Now the debt ratio in Portugal has risen almost 30 points to about 130% of GDP, the budget gap will exceed 8% this year and the unemployment rate approaches 20%.
LONDON | By Victor Jimenez | The strongest rejection against the Review came from within the City, from the £162.8-billion investment fund manager Fidelity, which said that “up front austerity has proved largely counter-productive.”
WARSAW | The tables have now turned for job seekers in Europe. As austerity and unemployment drives young people from Spain, Portugal, Italy and Greece in search of work, Poland is rapidly becoming an attractive destination for international job hunters.
MADRID | By Luis Arroyo | It is a grave mistake to stubbornly defend the application of the same strict rules whether the economy is growing or in recession, and social unrest and missed fiscal targets are testament to how wrong the current European policies are.
PARIS | Le Monde, via Presseurop.eu | In granting extra time to Madrid and Paris to clean up their public accounts, Brussels has shown good sense. This is in contrast to the rigid position it had adopted until now, which dragged the EU executive into a fool’s game with wayward member states.