Comment on 'From Austerity to Growth in Europe: Some Lessons from Latin America' by Stephany Griffith-Jones

This comment highlights the main findings in Griffith-Jones (2012) and discusses some of its main results. Griffith-Jones (2012) represents a major contribution, not only to the understanding of the current European crisis, but also by suggesting specific country-level and pan-European measures that can lead to growth recovery. This paper starts by studying the common features between the Latin American crisis during the 1980s and 1990s with the current debt crisis affecting several European economies. It then proposes a battery of macroeconomic policies at a pan-European level and at a national level to ameliorate the impact of the crisis and to boost the recovery and growth perspectives.