German Chancellor Angela Merkel renewed her call for austerity as crucial to tackling financial turmoil in the euro area, praising Canada’s economic example as she returned to the crisis fight after her summer vacation. (via Merkel Cites Canada as Debt-Deficit Model in Europe’s Crisis - Businessweek)
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Austerity will likely continue and could further worsen an already fragile investor climate as austerity-wrecked periphery countries remain in the throes of a debt trap.
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