[pas]

Thanks for the effort, the details, the links, and the comment!

How do these two things square against each other?

> Austerity in times of recession is craziness, but is the order that come from Brussels.

> What the ECB is doing now (since 2012), is buying the public debt of Italy, Spain and others in the secondary markets (2).

It seems to me that "austerity" is the buzzword used by states that want to inflate away their debt.