April 29, 2012
Europe Cools American Sentiment
Irwin Stelzer, Weekly Standard
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.
TAGGED: United States, Europe, Eurozone