It doesn't make sense... Remember, people who write for Reuters are journalists, rather than treasurers/repo traders. Yes, they're better quality journalists than, say, certain bloggers that shall remain namelss. However, pls, I implore you, treat all the pronouncements that all journos make with a large pinch of salt.
And yes, I agree there's definitely an austerity contraction occurring in the EMU (as well as the UK, for that matter). My point is that we'll have to see whether, in the long term, it ends up being a good thing or a killa.
