Costas Lapavitsas: Merkel’s visit to Greece shows Eurozone leadership don’t want to push Greece out, but situation is explosive as people are furious at austerity measures
Most Greeks Look to Left for Solutions, but Far Right Gaining Strength
Costas Lapavitsas Pt.2: Left party Syriza leads polls but conditions for fascism also developing as crisis deepens
German Left Party Vice-President Sahra Wagenknecht on wage repression in Germany and the European Stability Mechanism
from Democracy Now!
Public spending is under assault from the United States to Europe in the name of fighting deficits. Nobel Prize-winning economist Paul Krugman argues in his new book, “End This Depression Now!”, that the hysteria over the deficit will constrain an economic recovery in a time of high unemployment and stagnating wages. “The economics is really easy,” says Krugman, “If we were to spend more money at the government level, rehire the school teachers, firefighters, police officers who have been laid off in the last several years because of cutbacks, we would be a long way back toward full employment. … Right now there’s just not enough spending. We need the government to step in and provide the demand we need … We’ve had austerity in the face of a recession in a way that we’ve never had before since the 1930s. The results are clear — it is disastrous.” Krugman writes about the economy as a columnist for the New York Times and is a Professor of Economics at Princeton University.
The interview continues after the jump …
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