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Who Really Gains From Austerity?

German Chancellor, Angela Merkel

In, “Europe Should Stop Listening To Germany“, I very briefly mentioned the advantage Germany and other nations of the austerity chorus have over their southern counterparts thanks to skewed bond analysis employed by global markets. Part of the problem stems from the ability of each nation’s central bank to issue new debt, thus allowing markets to assess each issue state-by-state ... Read More »