Resurrection of the Euro European Austerity the First Step to Recovery

Austerity programs are all the rage in Europe. Several countries have pledged to slash spending by billions in a frantic effort to balance budgets and save the euro. Economists say that it might work -- and that the US should take notice.
Von Michael Kröger und Bahador Saberi
A number of European countries have passed significant austerity programs in recent weeks.

A number of European countries have passed significant austerity programs in recent weeks.

Foto: Julian Stratenschulte/ dpa
With material from wire reports