Friday, December 2, 2011

Euro and the Confidence Fairy

By Paul Krugman. 
“The idea that austerity measures could trigger stagnation is incorrect,” declared Jean-Claude Trichet, then the president of the European Central Bank. Why? Because “confidence-inspiring policies will foster ad not hamper economic recovery.”
 But the confidence fairy was a no-show …

 Read the post  here.

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