It was not unexpected. The level of tax increases, salary freezes, increasing unemployment rates, lower than anticipated exports growth - that generates a Consumption slowdown. Now, lets be completely frontal and say that the austerity is necessary, because it is. But, lets also face it - we are not doing enough on the State Spending side. We should refrain from increasing taxes now and focus on State efficiency - put the power back on private hands and cut down on State fats. Do you think we can do it?
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