April 29, 2012

Europe Cools American Sentiment

Irwin Stelzer, Weekly Standard

AP Photo

The eurozone's bailed out periphery countries can't persuade their saviors of the validity of the first rule of holes - when in one, stop digging. So although austerity is driving deficits up rather than down, shrinking economies (at an annual rate of 5 percent in Greece), and boosting unemployment (half of Spain’s young workers are jobless), Germany insists that everyone dig faster.

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TAGGED: United States, Europe, Eurozone

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