Greece and Europe: Is Europe holding up its end of the bargain?
Now that the Greek parliament has agreed to European demands for tough new austerity measures and structural reforms, Ben Bernanke asks whether Europe is holding up its end of the bargain.
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Bernanke Isn’t Serious
By which I mean that he isn’t Serious. His latest on Greece and the euro suggests that the deeper problems lie not in Greek fecklessness but in the refusal of the core — basically Germany — to allow either monetary or fiscal policies that would offset the downdraft from austerity in the periphery.
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