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Austerity Just the Start, Schaeuble Adviser Says in Handelsblatt

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.

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