Federal Chancellor of Germany Angela Merkel this week proposed 80 billion euros in spending cuts and new fees in order to reduce her country's budget deficit. It's just one instance of a growing trend of fiscal tightening amongst countries around the world:
If their timing is right, the leaders would be acting with foresight that is rare in financial history. If they are wrong and are pulling the plug on economic stimulus too soon, they are consigning tens of millions of people around the world to unemployment.
Have a nice weekend everyone.
