By Alex Brittain
LONDON--Greece still hasn't carried out true austerity measures and
its citizens continue to live above their means, Estonia's Finance
Minister Juergen Ligi said Friday.
"I haven't seen austerity in Europe," he said in an address at the
London School of Economics, adding that even in Greece's stricken
economy, the people haven't experienced true austerity and need to
absorb further reductions in salaries and pensions if their economy is
to be sustainable.
"Greek people are hard working...but this work is not as effective as [suggested by] their standard of living," he said.
He said Estonians have at times suffered much bigger reductions in their income than is being seen in Greece now.
Write to Alex Brittain at alex.brittain@dowjones.com
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