Paul Krugman Is Right About The Fiscal Irresponsiblity Myth In The Eurozone
This article was written in response to the Paul Krugman article posted below. It provides more detail on the fiscal positions of eurozone nations prior to the financial crisis. Greece was the only country with a sovereign debt problem. In fact, several of the nations most affected by the downturn, looked better than their peers. Unfortunately, the deflationary problem in the eurozone has been left in the hands of the ECB. Fiscal policies continue to be contractionary in the eurozone.