http://thenextrecession.wordpress.com/2012/04/18/a-generation-of-austerity/
Some of the Austerians are getting worried that things might be going
too far. The IMF has swung between wanting governments to step up the
pace of austerity, or ‘fiscal adjustment’ as the IMF calls it, and
taking it more easily. In the IMF’s quarterly Fiscal Monitor released
last February, the IMF reckoned that the governments of the mature
capitalist economies were reducing their budget deficits by an average
of 2% pts of GDP this year, with Eurozone governments cutting 3% pts.
The IMF thought this was good news. But now in April it is showing some doubts.
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