# In an op-ed Prof. Thomas Cooley offers solutions for the European financial crisis

1 Faculty News October 21, 2011 ![Reuters logo](/sites/default/files/styles/246w/public/assets/images/con_030503.jpg?itok=0OAgrDF0)>

Excerpt from [Reuters](http://www.reuters.com/article/2011/10/21/idUS174792273120111021) -- "For all of the Eurozone countries faced with unsustainable fiscal policies the solution will involve considerable pain in the form of budget cuts, shrinking public sectors and increases in tax collections." Additional coverage appeared in a [Reuters blog](http://blogs.reuters.com/great-debate/2011/10/21/europe-should-avoid-eating-its-seed-corn/).

[Read more](http://www.reuters.com/article/2011/10/21/idUS174792273120111021)