– Extract from article by Paul Krugman, NYT, 3 July 2015
It’s depressing thinking about Greece these days, so let’s talk about something else, O.K.? Let’s talk, for starters, about Finland, which couldn’t be more different from that corrupt, irresponsible country to the south. Finland is a model European citizen; it has honest government, sound finances and a solid credit rating, which lets it borrow money at incredibly low interest rates.
It’s also in the eighth year of a slump that has cut real gross domestic product per capita by 10 percent and shows no sign of ending. In fact, if it weren’t for the nightmare in southern Europe, the troubles facing the Finnish economy might well be seen as an epic disaster.
And Finland isn’t alone.
It’s part of an arc of economic decline that extends across northern Europe through Denmark — which isn’t on the euro, but is managing its money as if it were — to the Netherlands. All of these countries are, by the way, doing much worse than France, whose economy gets terrible press from journalists who hate its strong social safety net, but it has actually held up better than almost every other European nation except Germany.
And what about southern Europe outside Greece? . . .
Go to http://www.nytimes.com/2015/07/03/opinion/paul-krugman-europes-many-disasters.html?_r=0 for full text and extensive and lively reader commentary.
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For more from us on the Greek Crisis:
* From: Thinking about Economy and Democracy – here.
* From: World Streets on the Greek Crisis – here.
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About the editor:
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Bio: Founding editor of World Streets (1988), Eric Britton is an American political scientist, teacher, occasional consultant, mediator and sustainability activist who has observed, learned, taught and worked on missions and advisory assignments on all continents. In the autumn of 2019, he committed his remaining life work to the challenges of aggressively countering climate change and specifically greenhouse gas emissions emanating from the mobility sector. He is not worried about running out of work. Further background and updates: @ericbritton | http://bit.ly/2Ti8LsX | #fekbritton | https://twitter.com/ericbritton | and | https://www.linkedin.com/in/ericbritton/ Contact: email@example.com) | +336 508 80787 (Also WhatApp) | Skype: newmobility.)