Rome

Fiscal discipline can bear political cost, warns Bonino

Austerity will not end economic crisis, says foreign minister

Fiscal discipline can bear political cost, warns Bonino

Rome, May 15 - Austerity alone won't pull Europe out of the current economic crisis, Foreign Minister Emma Bonino said Wednesday. Speaking to the Foreign Affairs Committees of the House and Senate, Bonino said that "not everyone understands" the harm that austerity can do. Fiscal discipline is important, she said, but it also bears a steep political cost. Critics of the spending cuts brought in by many governments say it has played a role in dampening economic growth.

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