Weeks, John, (2016), “Eurozone Stagnation: Wrong Diagnosis, Wrong Medicine, No Recovery”, Social Europe, 2 September
If a doctor misdiagnoses a patient’s malady and prescribes an inappropriate medicine, we would not expect recovery to good health. Should the doctor persist in the faulty diagnosis and prescribe further doses of the wrong medicine, the wise patient seeks a second opinion. As evidenced by the experience of Greece last year, it is the misfortune of the residents of the eurozone that second opinions are not allowed.
Relevant Posts
- Nicoletta Batini, Giovanni Melina, Stefania Villa, (2016), “Fiscal Buffers, Private Debt, and Stagnation : The Good, the Bad and the Ugly”, IMF WP No. 16/104
- Lemoine, Matthieu, Lindé, Jesper, (2016), “Fiscal Consolidation Under Imperfect Credibility”, Centre for Economic Policy Research, July