Baltic Money Is Doing Great! Baltic People, Well…

In a piece about European countries adopting austerity measures in response to the Greek financial crisis, the New York Times (5/26/10) acknowledges that some people think this is a terrible idea: In most European capitals, the case for fiscal rectitude is now trumping fears that pulling away those props will hobble the fragile recovery. The voices opposing the budgetary turnaround come from unions and some opposition parties, like Labour in Britain and the Socialists in France, as well as some analysts. “The euro area is adopting the wrong policy at the wrong moment and is thus making people suffer, which […]