[kingu]

The pace of fiscal tightening has been too extreme, made much worse by the ECB’s monetary tightening last year.

Nope, the theft of the public's money has been too extreme, causing ever growing promises, and not enough people actually earning money to pay for it.

[John Locke]

In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: If you don't work you die.