Saturday, 2 February 2013

Greece vs UK Austerity Compared

The IMF have recently said that austerity in Britain was too much and that cuts should be reduced to promote growth. This is the same IMF that have imposed budget cuts on Greece that have led to a recession and contraction of over 25% of GDP in the last 5 years with a current year drop of 7%.

Yet the UK is around the 0% growth mark with budget deficit of over £100 billion and debt growing past the £1000 billion level.

How can UK austerity be considered too harsh by the IMF in those circumstances when Greece is inflicted with far worse cuts by the IMF themselves.

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