Thursday, June 20, 2013

Understanding Europe's Ugly New Order

Deflation, Wage Reduction, Unemployment, Poverty …

The crisis in Europe is ongoing. In fact, to continue to refer to what is happening--massive unemployment, wage reductions, savage spending cuts, etc.--as a crisis is senseless. A new order--a new European "world"--has been created. And it's ugly.

What is to be done?

Jean-Paul Fitoussi and Xavier Timbeau weigh in with analysis and answers. Click here to read their brilliant essay.