Tuesday, 31 January 2012

Eurozone Problems: Paul Krugman

It's well worth looking at the lastest blogpost by the economist Paul Krugman on the Social Europe website. He presents a number of clear charts that show, for example how the current economic difficulties in the Eurozone, and in particular the GIPS countries in Southern Europe, were not caused by a rise in public debt. Rather the rise in public debt has been a consequence of the crisis, the shift of resources from the public to the private sphere and the imbalances between the richer and poorer economies within the eurozone. Read more here

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