Austerity for Whom?

07/31/2014 Mises Wire Joseph T. Salerno

Steve Hanke points out that the anti-austerity faction in the EU led by Italy, France, and Spain is hypocritical when it claims that “there is nothing left to cut” in their budgets. Senior civil servants in Italy get paid over 12 times the national average salary. In France the ratio of senior civil service pay to the national average salary is over 6 and in Spain about 4.

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