What does Germany want now, having consigned the PIIGS to years of crippling deflation as the price for last week’s bailout?
More fiscal austerity, of course!
Non-existent inflation is the objective, or the goal, or the fetish, or all three!
Meanwhile, the most sensible solution for non-Northern European elites, a break up of the Euroland currency regime, followed by devaluation, isn’t being discussed, what Krugman calls “Ignoring The Elephant In The Euro”.
Gorilla says: “Schuldenbremse is the new Schadenfreude!”
