European Leaders Saying No to Austerity
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Austerity is out after the euro-area recession extended to a sixth quarter. Stimulus isn’t yet in.
That was the something-for-everyone message from European leaders at a summit in Brussels yesterday. All touted a previously announced 6 billion-euro ($7.7 billion), seven-year initiative to fight youth unemployment, now at 24 percent. National governments won’t put up more cash, German Chancellor Angela Merkel said.