Europe contracts, concerns widen
Written by Simon Tilford, 14 August 2012
"There's no doubt that some countries have no option but to pursue tight fiscal policies at the moment, but the extent of fiscal austerity across the euro zone as a whole is counter-productive," said Simon Tilford of the CER. In addition, "Spain and Italy face an almost impossible challenge: how to get their economies growing when borrowing costs are so high," he said.
Link to press quote:
http://online.wsj.com/article/SB10000872396390444318104577588483371390156.html
