Europe - Satellite image - PlanetObserver (Photo credit: PlanetObserver)

This is an excellent analysis from Paul Krugman, the Nobel winning, liberal economist in his NYT blog. Check it out! 

via Europe’s Economic Suicide – NYTimes.com.

Here is his conclusion:

So it’s hard to avoid a sense of despair. Rather than admit that they’ve been wrong, European leaders seem determined to drive their economy — and their society — off a cliff. And the whole world will pay the price.

Regular readers of this blog know that I strongly endorse Paul Krugman’s view here.

Are Europe’s leaders genuinely blind or do they have a death wish?