April 23, 2013
A large number of European media are leading with comments by Jose Manuel Barroso according to which he signalled a change in the EU’s demand for austerity policies. "While I think this policy is fundamentally right, I think it has reached its limits." he is quoted as saying, adding that for a policy to work, it would require a minimum of political and social support. In its coverage of the story, the FT linked the policy reversal to the outcome of the Italian elections, the recession and the re-assessment of Reinhart-Rogoff.