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Economically, austerity — which the Germans, among others, are intent on forcing upon their southern brethren — can sound like a good idea, but might actually exacerbate the conditions it ostensibly ameliorates. One day, we might look back on cuts in public services and infrastructure during a downturn with the same disbelief with which today’s doctors recall the medieval medicine of deliberately cutting and bleeding the sick.
Thomas De Monchaux