E-mail this story
Discredited economic theory holds Europe in deflationary thrall
PARIS -- This week the notorious "troika" representing the three major lenders to severely indebted European Union nations -- officials from the IMF, the European Commission and the European Central Bank -- once again descended upon Athens to consider new Greek proposals for dealing with its debt. (The IMF has recently expressed some doubts about all this but is still in the game.) The three were asked to approve a new Greek government plan to complete its 2014 budget in a way that would justify the next scheduled payment of troika loans needed for Greece's national "bailout."
November 5, 2013