More austerity won't solve EU's problems, Barroso says

04/23/2013 | Guardian (London), The · Independent.ie (Ireland)

The EU must look beyond government spending cuts to find a solution to its financial crisis because austerity no longer has the public and political support it needs to work, said Jose Manuel Barroso, president of the European Commission. Governments must be given more flexibility to bring their deficits to within the EU's limit of 3% of gross domestic product, he said. "Socially and politically, one policy that is only seen as austerity is, of course, not sustainable," Barroso said. "... The policy has reached its limits because it has to have a minimum of political and social support."

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Guardian (London), The · Independent.ie (Ireland)

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