Here's Wolfgang Schaeuble in Berlin :
“Nobody in Europe sees this contradiction between fiscal policy consolidation and growth...We have a growth-friendly process of consolidation, and we have sustainable growth, however you want to word it.”
Here's what he's referring to (courtesy DeGrauwe/Ji) - fiscal consolidation versus growth (2011-2012):
Clearly some "growth-friendly" consolidation.
Now I'm aware of the sample, the time-frame and the other nuances. But what I'm not that aware of is:
a) What is meant exactly by "growth-friendly"
b) Growth friendly for whom? Everyone?
SMH.
“Nobody in Europe sees this contradiction between fiscal policy consolidation and growth...We have a growth-friendly process of consolidation, and we have sustainable growth, however you want to word it.”
Here's what he's referring to (courtesy DeGrauwe/Ji) - fiscal consolidation versus growth (2011-2012):
Now I'm aware of the sample, the time-frame and the other nuances. But what I'm not that aware of is:
a) What is meant exactly by "growth-friendly"
b) Growth friendly for whom? Everyone?
SMH.
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