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“Expenditure cuts carry a significant risk of increasing the frequency of riots, anti-government demonstrations, general strikes, political assassinations, and attempts at revolutionary overthrow of the established order. While these are low- probability events in normal years, they become much more common as austerity measures are implemented.… High levels of instability show a particularly clear connection with fiscal consolidation.… We demonstrate that the general pattern of association between unrest and budget cuts holds in Europe for the period 1919-2009.” (via) (via)