Euro stress crosses border Into the Netherlands
Of all the people rocked by the debt and austerity tumult rattling Europe, the famously prudent but prosperous Dutch were seldom on anybody’s watch list. Until now. In The New York Times of May 1st an overview of opinions is given by experts concerning the upcoming budgets cuts. Some of them argue that it is good to accept the pain quickly, so that we are rid of it. However, Bas Jacobs, Professor of economics and public finance at Erasmus School of Economics, does not agree.
Bas Jacobs states: “The medicine — fiscal austerity everywhere — only makes the patient more ill.”
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Publication date: 04 May 2012