Australian politics, society & culture

Europe's economic suicide

Europe's economic suicide "The Spanish story bears no resemblance to the morality tales so popular among European officials. Spain wasn't fiscally profligate - on the eve of the crisis it had low debt and a budget surplus. Unfortunately, it also had an enormous housing bubble, a bubble made possible in large part by huge loans from German banks." (Paul Krugman)

Editors Choice: 
Not Editors Choice
Shortlist Date: 
Monday, 16 April 2012 - 2:55pm
Shortlist Position: 
General item

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