ECB Nowotny: Must Avoid Vicious Cycle of Budget Cutting

Europe must avoid a vicious circle of deficit-cutting measures undermining the economic recovery, European Central Bank Governing Council member Ewald Nowotny said Monday at a conference on European Economic Integration. “The reduction in both public and private sector indebtedness is necessary f…

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ECB Nowotny: Must Avoid Vicious Cycle of Budget Cutting