Friday, May 11, 2012

Europe: The big debate

by Stephanie Flanders

BBC News

May 11, 2012

Who is winning the argument in Europe on austerity, growth and the connection between the two?

I had a lively debate on this question this week with the BBC's veteran diplomatic correspondent James Robbins on the World Service.

I use the word "veteran" advisedly, but as James reminded us, he has been covering European issues for so long, he was there in Maastricht in 1992, when the basic rules for the single European currency were first agreed and signed into law.

In the programme we also heard from some distinguished economists from around Europe, all with a slightly different take.

As I suggested earlier this week, there's plenty of talk, now, about the need for Europe to focus on growth. But little agreement on what that means in practice - among economists, or policy-makers.

Will Chancellor Merkel and soon-to-be French President Hollande be able to find a common path? No-one knows.

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