Question

Is Austerity in Europe Working? one page essay please

Answer 1

Austerity measures are an attempt to significantly control public expenditure due to high public debt particularly when a nation is in jeopardy of defaulting on its bonds. Government spending has been cut on pensions, healthcare, education, while laws relating to employment conditions including retirement have been made flexible.

17 countries of European Union have applied it since 2010. YES, it has worked in Ireland, Spain, Italy, Germany, and Portugal. Though other countries criticise it and protest against it. But there is no point in borrowing at high interest rates and bailouts when you can not repay. It is better to live within the limited resources that your country possess.