When is the time for austerity?

http://www.voxeu.org/article/when-time-austerity
Powerful piece
Takeaway

” Fiscal contraction prolongs the pain when the state of the economy is weak, much less so when the economy is strong.

Keynes is still right, after all: “The boom, not the slump, is the right time for austerity at the Treasury.”

Anyone in Berlin or Merrion Street listening. ..?

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