Mises Wire
Author:
Kai Weiss
Online Publish Date:
critique of the German austerity measures seems rather dubious, considering that European countries with budget surpluses or small deficits have clearly done better thinks that a “fiscal boost” is needed because of the “lowflation” occurring in Europe. However, the low price inflation seems to disguise the true situation. The take Greece as a prime example : Greece was admitted [to the European Monetary Union] at a very high exchange rate. At this rate and prevailing wages, many workers