Wrong Solution

A great description of the European Central Bank’s (ECB) response to Ireland’s fiscal problems.

It’s as if we’re having the following dialogue: “Ireland really can’t afford to pay these debts.” “Here’s a credit line!” “No, really, we just can’t afford to pay.” “Here’s a credit line!” It really is like watching a car wreck.

Paul Krugman

Posted via email from Glodime @ Posterous