Michael Hudson: This is terrible news. No economy has ever grown as a result of austerity

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May 12, 2010 — Can a unified currency work, or would the taxpayers in the rich EU states end up paying for the blunders of corrupt politicians and bankers?

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Michael Hudson: This is terrible news. No economy has ever grown as a result of austerity

see

“Drop Dead Economics”: The Financial Crisis in Greece and the European Union by Michael Hudson

Greg Palast: How The IMF Set-Up Iceland & Greece + BP’s Inferno in the Gulf of Mexico

Greece: Poverty and Social Implosion in the Wake of the Financial Bailout by Finian Cunningham

Andrew Gavin Marshall: Western civilization on the Titanic

The Coming European Debt Wars by Prof. Michael Hudson