German Chancellor Angela Merkel and British Prime Minister Boris Johnson arrive for a press conference at the Chancellery on August 21 in Berlin. After a decade of austerity, Johnson’s Conservative government is finally embracing deficit spending, but Germany has yet to follow. Photo: AFP
David Brown
Opinion

Opinion

Macroscope by David Brown

The US, Britain and China are leading the retreat away from austerity. It’s time other economies, especially in Europe, followed

  • Deficit spending among major economies steadily declined in the years after the global financial crisis ended. With economies around the world slowing, major players – Germany in particular – should abandon austerity now

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German Chancellor Angela Merkel and British Prime Minister Boris Johnson arrive for a press conference at the Chancellery on August 21 in Berlin. After a decade of austerity, Johnson’s Conservative government is finally embracing deficit spending, but Germany has yet to follow. Photo: AFP
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