¿Han Funcionado las Políticas de Austeridad en Europa?

El sitio Vox publica un libro electrónico en donde se presentan un conjunto de notas que discuten sobre las políticas de austeridad que se han implementado en Europa.... vale la pena revisarlo para aquellos intersados en este debate

This eCollection provides a synthesis of the current debate, on whether the consolidation programs adopted by several countries in since 2011, cut too much and too soon, thus creating an unnecessary contractionary bias and macroeconomic risk. In the Eurozone, the backlash from such policy mistake could easily undermine social consensus towards the common currency and jeopardise progress towards integration. It is important to clarify from the start that the debate is not about the need for fiscal discipline. In advanced countries, with an ageing population and rising health care costs, the large expansion of debt due to the crisis is an unwelcome addition to the fiscal burden that requires a convincing policy response. Rather, the debate is about the extent to which spending cuts and tax hikes in the short run are desirable and effective in containing the prospect of sovereign risk crisis.