“Both Ireland and Greece offer the world extraordinary human capital, which is being wasted via austerity without simultaneous targeted investments for the future,” Ohio Wesleyan professor Sean Kay writes in The Huffington Post.
“No doubt, too, both countries face even harder choices in the coming months,” he continues. “In Ireland, another round of deep budget cuts will force a re-examination of a compact on public sector employment and benefits and put major strains on the governing coalition with a large junior partner Labour Party. In Greece, the government must make massive cuts in the public sector to qualify for further bailout payments—including shedding an additional 150,000 people from the public sector workforce by 2015.”
Read the full commentary here.