This short blog is vintage Krugman, in my view. It’s no wonder that Krugman’s blog has 1 million+ followers.
With Europe’s politicians and mainstream media trying desperately to bury the term austerity, Krugman uses the ECB‘s rate cut as hard-evidence of Europe’s deep and ongoing crisis. Arch-villain of the piece is Olli Rehn, perhaps the most hated politician and bureaucrat in Europe.
Against this background of policy misjudgment and blundering, heavy on bureaucracy and paternalism, it’s not surprising that many prominent UK business people are advocating a referendum on the EU. Yesterday, this blog looked at Lord Digby-Jones views on an early referendum on Europe.
Is there anybody out there who still disagrees with Krugman that austerity in Europe (including the UK) has been too severe and has blighted youth’s prospects for a generation?