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It is a counter-productive policy – austerity in a time of deflation".
In Germany, it is a morality play about making profligate "deficit sinners" atone and do their "homework," instilling a "stability culture" (low inflation, low debt) and enforcing a "savings policy" (austerity).
On one side, this is an imperfect measure of fiscal policy; austerity countries have been raising taxes and slashing transfer payments too, so this only gets part of the story.
From that, Curtis argues, came a new fiscal policy – "austerity" – and a sense that politics was no longer the art of the possible but the art of the deal.
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Eoin, a 25-year-old youth worker who asked VICE News only to use his first name, said he came because "I think that Tory policies, austerity policies disproportionately affect the vulnerable in society.
McDonnell is right to oppose the policy of austerity for austerity's sake.
Faced with a recession, Bruning followed a policy of austerity, while keeping Germany's currency pegged to the Gold Standard (much as Greece as follows a policy of austerity dictated by euro membership).
Can monetary policy safe austerity Britain from its slump?
"What I feel is dangerous is the policy of austerity in Europe.
You really want this tied to expansionary fiscal policy, not austerity.
The euro zone desperately needs a counter-narrative to its failed German-inspired policy of austerity.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com