Virtuous plans

The German government has presented an ambitious austerity package, the liberal conservative daily Corriere della Sera opines: "The assignment from Berlin to the rest of Europe is fiscal discipline. But in fact for many European governments this is shock therapy. They see themselves forced to follow Berlin's example by aiming to comply with the Maastricht Stability Pact as quickly as possible again and even go beyond its criteria by paying off the deficit. Germany wants to dictate the standards for austerity packages. A culture of stability for everyone, runs the motto. Europe's most virtuous country has raised the benchmark and is pushing aside governments that have not yet introduced austerity packages."

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