Sunday, April 29, 2012

Vital lesson to be learnt from Eurozone crisis

The impact of the financial crisis in Europe, especially Spain, which is hit the hardest, is multifaceted. The very vital lesson to be learned is that economists and also planners of economy ought to factor in non'-economic considerations in their analyses, discourses or strategising. The most essential and fundamental question is NOT whether for the Eurozone economies to impose austerity measures or not BUT, given the determination to reduce public spending, which categories in the expenditure should be cut so that the budget could be more balanced.