> This is largely because Europe became infatuated with austerity and its industrial policy has suffered as a consequence. Was austerity broad-based or specifi

> This is largely because Europe became infatuated with austerity and its industrial policy has suffered as a consequence. Was austerity broad-based or specifically targeted toward industrial areas? I'd always assumed austerity meant cutting back on public benefits/pensions/etc. but not strategic areas like this which is why I'm curious.