We are entering a New Age of World Austerity (PART ONE)
The world economy is gradually emerging from the biggest economic crisis
since the 1930s. In Britain last year we saw the biggest fall in
economic
output in any single year since 1921. Now there are signs of a slow
painful
recovery. However, there will be no return to “normality”. The crisis
marks the
end of an epoch economically and politically. We are now entering the
age of
austerity.
