December 12, 2011

Depression and Democracy in Europe

Paul Krugman, New York Times

AP Photo

It is time to start calling the current situation what it is: a depression. True, it is not a full replay of the Great Depression, but that is cold comfort. Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege.

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TAGGED: Germany, Hungary, Austria, Finland, EU, European Union, Eurozone


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