Bach Under The Stars

Friday 1 February 2013

Austerity. What austerity?


List of EU countries which had budget cuts:
  • Bulgaria,
  • Estonia,
  • Greece, but only 1%,
  • Hungary,
  • Malta,
  • Romania,
  • Sweden,
Actually champion of austerity is Iceland which cut spending by 20% in real terms.
UK and France obviously haven't had austerity, almost all EU countries have increasing spending. Between 2008 and 2011 there was 5% increase in budget expenditure on average.

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