Sunday March 29, 2020

Belief in myths confusing response to crisis

There is breathing space now in the eurozone, but the wrong moves could still suffocate any recovery, writes Harald Uhlig.

19th February, 2012
2
The debt crisis in Europe is, above all, a political problem.

In many ways, things in Europe look better than they did just a month or two ago. The European Central Bank (ECB) is providing banks with almost unlimited cash to buy their governments' bonds, and yields on Italian debt have declined.

This breather is a perfect opportunity to examine some pernicious - and widely circulated - myths that have emerged from the crisis and could still do much harm.

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