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Austerity “is not working” and may be replaced by a policy of quantitative easing, ie printing money, writes the daily, following comments made by European Commission President José Manuel Barroso.
Summing up the key points from Barroso's Brussels speech on April 22, the newspaper said –
the commission's most senior official has given the strongest signal yet that the Europe-wide policy of spending cuts and tax hikes could be relaxed in an effort to kickstart economic growth.
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Barroso's comments appeared to signal a change in approach, with him adding that the EU should focus on stimulating growth, rather than spending cuts. The daily quoted Barroso as saying that austerity had “reached its limits”.
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