Over the past months, and more precisely from the moment that the Eurozone drafted its Fiscal Pact, to impose zero primary deficits to governments signing it, there is a growing negative criticism that such a prospect will suffocate growth.

And this criticism does not come only from neo-Keynesian or left wing economists. The main adversaries of the Eurozone's austerity programmes are well known liberals and market loving commentators with vested interests in the ideals of market supre...

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