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Nobel economists say policy blunders pushing Europe into depression

by Ambrose Evans-Pritchard, The Telegraph:

An array of Nobel economists have launched a blistering attack on the eurozone’s economic strategy, warning that contractionary policies risk years of depression and a fresh eruption of the debt crisis.

“Historians are going to tar and feather Europe’s central bankers,” said Professor Peter Diamond, the world’s leading expert on unemployment.

“Young people in Spain and Italy who hit the job market in this recession are going to be affected for decades. It is a terrible outcome, and it is surprising how little uproar there has been over policies that are so stunningly destructive,” he told The Telegraph at a gathering of Nobel laureates at Lake Constance.

Read More @ Telegraph.co.uk

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1 comment to Nobel economists say policy blunders pushing Europe into depression

  • Rodster

    News Flash !!!!

    They already are. Their MSM is afraid to tell them the truth. Anyone who says Spain, Italy or Greece are not in a depression should be hit over the head with a frying pan. Just like in the cartoons lol.

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