The French government of Francois Hollande has fallen. The French government has fallen because of the pain caused by EU, i.e. German, fiscal austerity. Paul Krugman, who would have been U.S. Secretary of the Treasury if his New York Times column wasn't already read so avidly by administration officials thus rendering their firm tender of "NO OFFER" moot, I say Paulie has been banging the anti-austerity drum slowly and vigorously for years. And when Krugman bangs, people notice:
“We have to prioritize growth. We shouldn’t focus solely on the deficit. You have Nobel economists — Joseph Stiglitz and Paul Krugman — as well as Gerhard Schröder all of them are arguing that it’s impossible to reduce the deficit without growth."
“We have to prioritize growth. We shouldn’t focus solely on the deficit. You have Nobel economists — Joseph Stiglitz and Paul Krugman — as well as Gerhard Schröder all of them are arguing that it’s impossible to reduce the deficit without growth."
-Arnaud Montebourg, Hollande's FORMER economy minister.
