The pseudonym "Philo Vaihinger" has been abandoned. All posts have been and are written by me, Joseph Auclair.

Friday, September 18, 2015

Is it always a dirty word?

"Austerity."


Last week, Finnish Prime Minister Juha Sipila announced plans aimed at reviving the eurozone member's economy after three years of recession.

The plans included cutting back holidays, reducing pensioners' housing allowances, and reductions in employees' overtime and Sunday pay.

"The Finnish state has contracted debt at a rate of almost a million euros (£370,000) per hour for seven years, day and night, every day of the week. We cannot continue like this," Mr Sipila said.

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