Bloomberg News

Austerity Just the Start, Schaeuble Adviser Says in Handelsblatt

March 26, 2012

The end of the sovereign debt crisis won’t be in sight before countries have completed economic adjustment and begin to grow again, Clemens Fuest, an adviser to German Finance Minister Wolfgang Schaeuble, wrote in a guest commentary in Handelsblatt.

“The crisis-states in Europe are rather at the beginning than at the end of an historically unique austerity process,” Fuest wrote.

To contact the reporter on this story: Jeff Black in Frankfurt at

To contact the editor responsible for this story: Craig Stirling at

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