The European Union (EU) is stagnating because of austerity. Austerity in response to the Great Recession has already, gratuitously, forced the eurozone into recession and roughly one-third of its population live in nations with Great Depression levels of unemployment. Austerity has now thrown Italy into its third recession in six years and may well do so in France. One might think that even the troika would respond to this track record of failure and anguish by deciding to stop smashing the eurozone’s economy with the hammer of austerity.
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