2023-12-08 21:55:33
Europe is preparing to return to austerity policies. The post-covid broad sleeve, which has been extended by the war in Ukraine, will be abolished before the end of the year. In 2024 we will return to the discipline that is mainly defended by Germany and northern Europe. There will be no return to the harshness with which the financial crisis of 2008 was faced, but the flexibility that allowed the deficit and the public debt of the states to increase has ended. Spain will be among the most affected: it is one of the members of the European Union with the worst figures. Specifically, its debt currently stands at 107.5% of GDP. From next year, this excess will have to be wiped away and, at the same time, the annual deficit must be controlled. So the expansive fat cows are over. The Keynesianism of recent years is coming to an end. We are on the verge of a significant change of ground that will have consequences in the actions of the administrations through the budgets. The citizens, then, will also end up noticing it.
#European #austerity #affect