Governments in Europe should lower taxes and increase
salaries to boost growth rather than insisting on austerity and continued
saving, famous economist Nouriel Roubini told a German newspaper in an
interview on Tuesday.
Roubini also said the German government should give its
citizens incentives to go on holiday in countries in the south of Europe that
were affected by the debt crisis to help those states recover.
Some leaders in major European countries have already
shifted their rhetoric from austerity to growth, as tax increases and cuts in
government spending have exacerbated the economic downturn, causing deep
recessions in some euro zone countries. But Germany still insists on austerity
as a way to bring budgets under control.
"The savings madness must be stopped. Governments must
lower taxes and increase wages. Europe needs growth," Roubini told popular
newspaper Bild…..
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