'Counterproductive Strategy' UN Agency Slams European Austerity Measures

A new report by the International Labor Organization has strongly criticized euro-crisis austerity measures. They have had "devastating consequences" for the job market, which could be entering a "new and more problematic phase" worldwide, the report warns.
A protest of austerity measures in Madrid on April 29, 2012. The country's budgetary deficit has only been slightly reduced.

A protest of austerity measures in Madrid on April 29, 2012. The country's budgetary deficit has only been slightly reduced.

Foto: Daniel Ochoa de Olza/ AP
kla, with wire reports