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The International Monetary Fund apologizes for any inconvenience:

The International Monetary Fund (IMF) released research today suggesting that it had significantly underestimated the damage European austerity would do to EU growth rates.

So things have gotten worse because of those austerity policies.

But as you know by now, the only viable solution for the damage that has been caused by austerity is…more austerity.

(Reuters) – The worst of the euro zone debt crisis may be over, but governments must not let up on reforms or budget cuts if they want to put the turmoil firmly behind them, the EU’s top economic official said on Friday.

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