In the links this morning, I linked to a Handelsblatt interview with the head of Austria’s social democratic EU parliamentarians. The overall gist of his comments were that he believed the EU budget was ‘catastrophic’ because it was in deficit. However, he was arguing for additional revenue to support better infrastructure and increased employment. This is the standard social democratic political position in both Austria and Germany. But, as the EU budget wrangling has begun it is the intervention for austerity by British Prime Minister David Cameron that has won the day.
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