| Slovakia's prime minister rails against austerity | Slovakia's prime minister has called for an end to "completely counter-productive" austerity policies and for governments to focus instead on reigniting growth, as his small but very open economy is pummelled by the slump in the eurozone.
Robert Fico said he was part of a growing group of anti-austerity government leaders.
"It is not possible at the same to consolidate, to cut public finances and to expect that the government will have enough resources to support economic growth and fight the unemployment rate," he said.
Under the previous centre-right coalition administration led by Iveta Radicova, Slovakia became a poster-child for belt-tightening – her government slashed benefits and public sector salaries, driving the deficit down from a high of 8 per cent of gross domestic product in 2009 to 4.3 per cent last year, all while keeping taxes low.
http://link.ft.com/r/J0VG55/1OX8FP/18E32X/KQKNEE/DXTVFD/W1/h?a1=2013&a2=5&a3=1
| | |
