Austerity may not doom European governments to fall

Press quote (Reuters)
19 November 2010

"The politicians have succeeded for now in imposing spending cuts, but what happens in round 14 or 15 of those cuts," said Charles Grant, director of the Centre for European Reform in London. "I think Ireland can take a lot more pain as the Latvians did, but I'm not convinced the Greeks and some Mediterranean countries with no tradition of budget discipline will."