The cuts that hurt the council will also scar the continent

Written by Charles Grant, 12 December 2010

But as Charles Grant of the Centre for European Reform, a strong believer in the eurozone, puts it: "The German medicine for the eurozone crisis - austerity and structural reform - is not enough. The problem countries will not be able to grow their way out of debt deflation."

Link to press quote:
http://www.guardian.co.uk/business/2010/dec/12/cuts-councils-europe-comment-keegan