Austerity

What Ireland Can Teach Europe

Conn Hallinan
Foreign Policy in Focus
Europeans who think the current crisis is unique forget that between 1845 and 1848, 1.5 to 2 million Irish fled their famine-blackened land (while another million or more starved to death) in large part due to the same kind of economics Europe is currently trying to force on countries like Ireland, Portugal, Italy, Greece, Spain, and Cyprus. Today, the migrants are from Syria, Somalia, Yemen, Iraq, Afghanistan, and Libya, but the policies are the same.

Puerto Rico Is Getting Squeezed, and It Will Cost All of Us

Anamaria Lopez
Institute for New Economic Thinking
The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman. 1,000 miles off the coast of Florida, a small Caribbean island of 3.4 million American citizens is facing its worst economic crisis since coming under U.S. rule in 1898. In the short term, austerity aggravates the recession and reduces opportunities.

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