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Were austerity instructions handed down by the EU or did the individual member states decide to implement it themselves?
by alanpetrel 7y ago
Were austerity instructions handed down by the EU or did the individual member states decide to implement it themselves?
- evancox100 7y agoHanded down but up to countries to follow them. As the article states, Italy appears to have followed them to the letter, more so than Germany or France, but hasn't ended up in a great place.
- presidente20 7y agoHanded down. The austerity has been a condition of the bailouts from the ECB & IMF. The Greeks even voted against the terms in a referendum which was immediately overturned. In Italy the EU even went to the lengths of appointing their own man to oversee the terms: https://en.wikipedia.org/wiki/Mario_Monti#Prime_Minister_of_Italy https://en.wikipedia.org/wiki/Mario_Monti#Prime_Minister_of_...