Budget Europe (Manasse)

“Budget cuts across Europe: Coordination or diktat?” by Paolo Manasse on VoxEU.The column suggests that the planned exit strategy seems to support convergence among European countries aiming to cut deficits, despite the lack of formal mechanisms for fiscal coordination across Europe. Yet it argues that the budget cuts do not reflect the unemployment situation of member countries and appear inspired by Germany’s fiscal orthodoxy.http://migre.me/12PON