Did some euro-zone countries reduce useful public spending to correct their fiscal deficits?
From 2011, the euro zone had a very clear policy to reduce fiscal deficits. This policy may have had worrying effects if it led to a reduction in useful public spending: Spending on healthcare (the current crisis shows its utility); Spending on education and research (against the backdrop of labour market and technological transformation); Public investment, even though some investment (road infrastructure) is not always efficient. We see that useful public spending was reduced in many countries: France, the Netherlands, Spain, Italy, Ireland, Portugal, Greece and Finland. This will certainly lead to an upward adjustment in public spending in these countries in the future.