Europe's austerity has made its problems worse, Paul Krugman writes, and the renewed...

|By:, SA News Editor

Europe's austerity has made its problems worse, Paul Krugman writes, and the renewed "confidence" that was supposed to revive the private sector when governments got their fiscal houses in order has failed to appear. The ECB acts "as if it is determined to provoke a financial crisis," raising rates and warning against any form of debt relief.