To Cut or Not To Cut, That is the Question

IMF head is asking indebted countries to reduce deficit slowly.

“Christine Lagarde said in a speech in Zurich that  steep cuts tend to slow an  economy, particularly if a nation is already  suffering from weak growth.”

French President-in-waiting, Francois Hollande, is going to put France on a new course.

“Europe is watching us, austerity can no longer be the only option,” he (Hollande) said.

Nein says Merkel’s Germany:

“There will be no loosening of the deficit targets,” one high-level German source said.

So Doc, what is it gonna be?

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