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Tuesday, October 14, 2014

Edward Hugh : "Don't Shoot the Messenger » Eurocrisis Round Two, Blame the Germans Edition"

Great post by Edward Hugh



EconoMonitor : Don't Shoot the Messenger » Eurocrisis Round Two, Blame the Germans Edition



What southern Europe needs is a revolution in the mindset and more “better quality” stuff, and no amount of blaming Germany for the situation can get over that. The extractive networks who hold back growth need reforming out of existence.  (emphasis added)


He quotes Paul Krugman: " “Draghi can try to get traction through quantitative easing, but it’s by no means clear that this could do the trick even under the best of circumstances — and in reality he faces severe political constraints on what he can do.” - 

... and inserts the below pic.... great!






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