“The danger is not only that these austerity measures are killing the European economies but also that they threaten the very legitimacy of European democracies – not just directly by threatening the livelihoods of so many people and pushing the economy into a downward spiral, but also indirectly by undermining the legitimacy of the political system through this backdoor rewriting of the social contract.”

—  Ha-Joon Chang

"The root of Europe's riots" http://www.guardian.co.uk/commentisfree/2012/sep/28/europe-riots-root-imf-austerity, The Guardian, 28 September 2012.

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