Austerity – a term that had been floating around the financial circles regarding country bailouts in respect the “EURO” is a term used to describe financial reform among countries who are in financial trouble with large deficit spending and a high socialistic approach to governing its people. According to Wikepedia austerity is defined as “a policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public services provided. Austerity policies are often used by governments to reduce their deficit spending while sometimes coupled with increases in […]