EU Will Not Rush Back To Austerity: Bloc Chief
Mohammad Ali (@ChaudhryMAli88) Published September 16, 2021 | 11:20 AM
Strasbourg, France, Sept 15 (UrduPoint / Pakistan Point News - 16th Sep, 2021 ) :The European Union will not repeat the mistake of the 2007-2008 financial crisis by imposing sudden budgetary austerity as it emerges from the Covid-19 pandemic, the bloc's chief said Wednesday.
Noting that last time it took the EU eight years to get back to pre-crisis levels, Ursula von der Leyen told the European Parliament in her annual State of the European Union address: "We will not repeat that mistake."She called the financial crisis "a cautionary tale" in which "Europe declared victory too soon and we paid the price for that".
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