Sentences with phrase «adopt severe austerity»

Mr Baron argued that saving the euro could make the recession worse, as it forces countries to adopt severe austerity packages instead of considering the alternative of revaluing their currency.

Athens was forced to adopt severe austerity measures that plunged the country into a deep recession.

Not exact matches

Obama intended the prospect of the fiscal cliff's dramatic mandatory cuts in social programs to extort progressive Congressional Democrats into agreeing to inflict severe austerity by voting in favor of what Obama hoped would be massive cuts in social programs and the safety net adopted by the Congressional «super committee» created by the same bipartisan austerity deal that created the «fiscal cliff.»