UK austerity v US stimulus: Divide deepens as eurozone cuts continue
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"More people are openly questioning the economic logic of fiscal austerity at a time of pronounced private-sector weakness. The spectre of Greece and Portugal is putting advocates of the current strategy on the defensive," says Simon Tilford, chief economist at the CER. "But there is scant acknowledgement that growth will require expansionary macro-economic policies or the dismantling of huge trade surpluses in places like Germany."