Brussels Notebook - AUSTERITY VS FLEXIBILITY

It’s over. Finally, the eurozone has exited the longest and worst recession since the Great Depression of the ’30s. But who should take the credit for ushering the 17-country bloc out of economic darkness?  

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Brussels was quick to claim victory. Olli Rehn, the EU’s economic chief and a strong advocate of tough austerity measures, said that tight budgetary rules imposed on member states by the European Commission had been pivotal to help the eurozone economy return to growth.

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