Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Which part of Jerome's people have to do with less ... and need to reduce their consumption of everything else is inconsistent with your If we consume less resources, this means austerity which you call a non-sequitur?

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Carrie (migeru at eurotrib dot com) on Wed Jan 25th, 2012 at 11:14:58 AM EST
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