EU Economics: European Fiscal Austerity Measures

2009 and 2010 have been hugely difficult and painful years for many of the countries inside the currency union. A dangerous combination of deep recession, rising unemployment, a severe worsening of government finances, high public sector debts and the expectation that a period of fiscal austerity will hit living standards badly have all contributed to a sense of malaise for those countries that have entered monetary union.

The Telegraph has this summary of fiscal austerity measures introduced by a cluster of countries that have been hit by the Europea sovereign debt crisis

Hamish McRae in the Independent has this Review of the Economy in 2010 - a useful overview