Europe’s austerity-to-growth shift largely semantic

To listen to some European leaders, especially in France, you would think the era of austerity was over and the euro zone was going full steam ahead to revive economic growth.

In a striking change of tone, European Commission President Jose Manuel Barroso said last month that austerity - the policy of cutting public debt by reducing spending and raising taxes - had reached the limits of public acceptance.

In reality, the shift is more in words than deeds. The rhetoric has changed but there has been no policy U-turn.

via Business feed http://www.scmp.com/business/economy/article/1248023/europes-austerity-growth-shift-largely-semantic