I actually I agree with the bit about austerity and it would be economic stupidity to demand certain actions to be implemented in the short term. I have written against the bane of austerity during a depression enough in the thread about the European economy.
However it is absolutely wrong to see the integration into the broader European economy just through the prism of the Washington consensus. It is in fact even completely wrong to describe the WC in such a one-sided way. It is important to keep the simple facts in mind. An it is a fact that the reforms in the spirit of the WC did also great good and were one reason why we have graphs like that.
I think you should try to step back and lookd at the big picture and avoid to see it all the economy in the austerity light. It is very important to avoid a false balance. The world is not black and white but also not a shade of gray right in the middle...
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