Great Expectations?

[Dreadnaught]

Nearly every developed nation is busy trying to balance recovery with austerity

I disagree. Many countries in Europe are imposing austerity on the private sector, while the public sector gets off relatively lightly.

[Hazir]

I disagree. Many countries in Europe are imposing austerity on the private sector, while the public sector gets off relatively lightly.

Which countries would that be? The Brits for example are on a path to grind down the public sector to levels below those in the USA. In Holland austerity mostly means a shift from tax on income to VAT, a reduction of the deductability of interest paid on mortgages, and raising the retirement age (social security).