Bloomberg News

Stiglitz Says Austerity Is ‘Suicide Pact’ for Major Economies

October 25, 2011

Oct. 25 (Bloomberg) -- Nobel-Prize winning economist Joseph Stiglitz said austerity is a “suicide pact” for the world’s major economies.

“The only way we’re going to make it through, restore economic growth, is by stimulating the economy,” Stiglitz said today at a conference in Toronto. “The austerity that is going on in Europe, America and so forth is effectively a suicide pact for our economies.”

--Editors: James Tyson, Kevin Costelloe

To contact the reporter on this story: Colin McClelland in Toronto at cmcclelland1@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net


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