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SUNDAY REVIEW, Page 10 BRITAIN'S FAILED EXPERIMENT A plan by Prime Minister David Cameron of Britain to energize economic growth through radical fiscal austerity failed dismally, but Mr. Cameron's coalition plans to push even tougher austerity measures.
As chief executive of the London Chamber of Commerce and Industry (LCCI) since 2002, he has worked for the interests of thousands of companies in the capital, most of them small and medium enterprises, over a period when even global financial crisis and domestic austerity failed to derail the nation's principal economic locomotive.
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James Knightley at ING notes that tax receipts are down, as the economy continues to flat-line and austerity fails.
This time, the demands placed on Greece and other debtors have been relentlessly harsh, and the more austerity fails, the more bloodletting is demanded.
"Austerity has failed across Europe".
Austerity has failed.
Both argued that the European Union's agenda of austerity had failed.
But demonstrating that austerity has failed does not prove that stimulus fixes everything.
JOSEPH Stiglitz has a post on Project Syndicate arguing that Greek debt should be forgiven and that austerity has failed.
Austerity has failed, there's still a major deficit, jobs are less secure and workers' living standards have fallen.
Ms. McDonald said France, Italy, Greece and even Germany were all saying that "the emperor is buck naked, has no clothes and austerity has failed".
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