Eurozone policy seems driven by market sentiment. This column argues that fear and panic led to excessive, and possibly self-defeating, austerity in the south while failing to induce offsetting stimulus in the north. The resulting deflation bias produced the double-dip recession and perhaps more dire consequences. As it becomes obvious that austerity produces unnecessary suffering, millions may seek liberation from ‘euro shackles’.
and where was everyone in the summer 2010? one of my weekly reports then came out under the heading "Herbert Hoover moment" by analogy with the liquidationists" early 1930s. where was the 'nobel laureate" Roubini or representatives of the Russian movement & quot; the crisis of decaying capitalism" или фаны движения "действия FED позволяют нам оправдаться, why our predictions go to milk" ?
