While an end to the pandemic is not yet in sight, austerity is nonetheless making a discreet comeback in public debate. If fiscal orthodoxy could allow that states stood by an economy hampered by health restrictions, it affirms once more that newly-contracted sovereign debt would have to be repaid through cuts in pensions and public services, as well as tax increases for the vast majority of the population.
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Cancelling a debt we already own has a false allure – Anne-Laure Delatte, Michel Husson, Benjamin Lemoine, Éric Monnet, Raul Sampognaro, Bruno Tinel and Sébastien Villemot
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