Greetham: Austerity is not working

Speaking at Fidelity's Economic Forum, the portfolio manager on Fidelity's multi-asset funds slammed Europe's fiscal pact as a "suicide pact" and said the region needs to adopt a credible long-term plan to counter "vicious" short-term economic cycles. "I don't think austerity is working in the UK or Europe," he said. "We need to get stimulus going." Calling for more "consistent" stimulus measures, he said central banks will only begin a new round of money printing when economic conditions deteriorate further. He said debt problems are best solved through pro-growth strategies, as e...