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Continue reading “ECB\u2019s Nowotny Cautions Against \u2018Single-Minded\u2019 Austerity – Real Time Economics – WSJ”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,33],"tags":[289,962,1169,1305,1312],"class_list":["post-4652","post","type-post","status-publish","format-standard","hentry","category-economy","category-uk-europe-countries-regions","tag-austerity","tag-debt-crisis","tag-ecb","tag-eurozone","tag-ewald-nowotny"],"yoast_head":"\nECB\u2019s Nowotny Cautions Against \u2018Single-Minded\u2019 Austerity - Real Time Economics - WSJ - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECB\u2019s Nowotny Cautions Against \u2018Single-Minded\u2019 Austerity - Real Time Economics - WSJ - the patient investor\" \/>\n<meta property=\"og:description\" content=\"\u201cThe single-minded concentration on austerity policy (in the 1930s) led to mass unemployment, a breakdown of democratic systems and, at the end, to the catastrophe of Nazism,\u201d said Ewald Nowotny [Austria\u2019s central bank governor and member of ECB governing council] at a financial conference in Vienna. 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It means\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4555,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/06\/when-austerity-fails\/","url_meta":{"origin":4652,"position":3},"title":"When Austerity Fails","author":"Colin Twiggs","date":"June 6, 2012","format":false,"excerpt":"Austerity decimated Asian economies during their 1997\/98 financial crisis and similar measures have failed to rescue the PIIGS in Europe 2012. David Cameron's austerity measures have also not saved the UK from falling back into recession. So why is Wayne Swan in Australia so proud of his balanced budget? 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