Studie: GLOBAL CORPORATE TAXATION AND RESOURCES FOR QUALITY PUBLIC SERVICES
Edited by Laura Figazzolo and Bob Harris
The problem with the ‘no option but austerity’ line is that it thrusts national economies into downward spirals. Austerity dampens then freezes economic activity. Public revenues drop. The objective of reducing sovereign debt is defeated because of the downturn in economic activity, while uncertainty drives up the cost of servicing the debt – the classic ‘debt trap.’ There is another way....