Amy Medearis

Transatlantic Relations in an Age of Fiscal Austerity

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Prior to the economic and financial crisis that began in 2008, the fiscal challenges of both
Europe and the U.S. largely were viewed as longer-term issues, associated with gradually
rising public expenditures in the face of aging populations (the main issue for Europe) and
soaring health care costs … As a consequence, the focus on both sides of the Atlantic has shifted toward fiscal consolidation—both in the near term as well as the longer term.