Afternoon Must-Read: Jean-Claude Trichet: A Trip Down Euromemory Lane
Via Paul Krugman, who says “Europe marched into this disaster with eyes wide shut”: (June 2010):
A Trip Down Euromemory Lane:
“As regards the economy…
…the idea that austerity measures could trigger stagnation is incorrect.… In fact, in these circumstances, everything that helps to increase the confidence of households, firms and investors in the sustainability of public finances is good for the consolidation of growth and job creation. I firmly believe that in the current circumstances confidence-inspiring policies will foster and not hamper economic recovery, because confidence is the key factor today…