Gordon Brown slams Greek bailout – and warns Europe over austerity

In an article for the Washington Post entitled Europe’s shortsighted response to a worsening fiscal reality, Gordon Brown has hit out at German-led austerity in Europe, lambasting:

“policies that the whole world can see have already failed.”

In fact, Brown goes further still in tackling head on the central argument around austerity – that any failings that arise from austerity are because there isn’t enough austerity:

“the unfolding tragedy of a bankrupt Greece is only a symptom of an even more fundamental miscalculation: a wrong-headed conviction, widely held across Europe, that if austerity is failing, it is because there is not enough of it.”

His prognosis for Europe as a whole is bleak. As he discusses a global shift towards emerging economies, he warns European leaders that:

“What Europe is experiencing may prove to be a permanent and irrevocable loss of prosperity.”

You can read the full article here.

Everything Labour.
Every weekday morning.

By clicking ‘subscribe’ you confirm you have read and agree to our privacy policy

More from LabourList