Stiglitz Says Austerity Is ‘Suicide Pact’ for Major Economies
October 25, 2011, 2:51 PM EDTBy Colin McClelland
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
