Is There A Doctor In The House?

Contrary to conventional wisdom, the euro crisis was NOT triggered by runaway spending, Dean Baker reminds. It follows, then, that monetary policy—NOT fiscal policy—is the solution, as Ambrose Evans-Pritchard explains. Instead, the politicians are, of course, pushing for a political solution engineered by Germany. “For the third time in less than twenty years, Germany is trying to force down the throat of Europe a federal ‘political union’ which, in the eyes of too many European observers, eerily resembles a gentler, kinder Anschluss,” writes Tony Corn. You can’t always get what you want. The question is whether Europe will get something it needs before it’s too late? The jury’s still out.