Reforming the flawed economies of Europe’s peripheral countries

Austerity measures in Europe have failed to deliver results (photo:dpa)
Austerity measures in Europe have failed to deliver results (photo:dpa)

Austerity measures have failed to turn round the economies of Europe’s peripheral nations – those with slow growth, big debts and high unemployment. New ways to stimulate growth and restore flagging economies could be introduced which reward countries rather than imposing penalties for failing to meet fiscal discipline.

<i>Several countries will miss the European Union’s three per cent deficit-to-GDP ratio in 2013, while possible increases in interest rates could force slow-growing, highly-indebted economies - the periphery of the EU - to beg for new bailout programmes. Not much will emerge from the traditional austerity versus growth strategies. If further financial resources ...

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