While the EU lurches from one crisis to the next, we hear much about “austerity”. I use sarcastic quotes because anyone who has been paying an iota of attention to the circus that is the EU realizes that “austerity” is just a weak cover for tax increases, not government spending cuts. When nonsense such as:
- government owned racing circuits (Germany’s Nurburgring Circuit Faces Insolvency)
- billion euro telescopes
- multibillion euro toys that serve as welfare for PhDs
all come to an end, then maybe we can think about removing sardonic quotes from “austerity”.