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The American Empire in a Changing World



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Saturday, May 5, 2012

''Central Europe walks austerity tightrope''

From Reuters


"When Romania's government cut salaries by a quarter in 1931, it collapsed and the country ran through 22 different cabinets in a decade and slid into dictatorship and war.

Eight decades later, another government introduced a similar austerity measure under an International Monetary Fund-led bailout. It fell and parliament threw out its successor after just two months."

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