missed this, the spectre of austerity is haunting Europe, and its apostles include social-democratic voices that should know better - h/t @Europeripheral
https://twitter.com/elpais_opinion/status/1378677299290255361
here El Pais, newspaper closely associated with Spanish social-democrats (PSOE), writes an editorial that you'd be forgiven to suspect was dictated by German fiscal fundamentalists
- public debt as burden for future generations ✔️
- fiscal space independent of ECB ✔️
- public debt as burden for future generations ✔️
- fiscal space independent of ECB ✔️
- macrfinancially dangerous, economically illiterate Maastrich criteria ✔️✔️✔️
as I warned a while ago, rhetoric of 'tough choices' announces return of fiscal fundamentalists, and nowhere is that threat more powerful than in Eurozone's dysfunctional macrofinancial architecture
theguardian.com/commentisfree/…
theguardian.com/commentisfree/…
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