Many European Countries Chose to Employ Austerity Measures During the Great

Many European countries chose to employ austerity measures during the Great Recession despite the fact that

A) this would actually increase budget deficits due to lower tax revenues
B) this would boost their own economies at the expense of their trade partners
C) exchange rates would have to be adjusted
D) this would make their debt crisis worse
E) economic activity would be reduced leading to increased hardship for much of its population