[AG-GOuFP] Angela Merkel’s mania for austerity is destroying Europe - She must be stopped. (New Statesman)

[Systemfrager <Systemfrager AT yahoo.de>]

But Merkel won’t budge. She is a purveyor of the conventional wisdom 
which says that the economy is like a household that can’t borrow or 
spend more than it earns. But economies are not households – or credit 
cards! – and common sense tells us that the solution to a downturn 
caused by a prolonged drought in demand is not to reduce demand further 
(by slashing spending). History teaches us that the Great Depression 
wasn’t helped by Herbert Hoover’s cuts in the US and, in pre-war 
Germany, it was mass unemployment, not hyperinflation, that propelled 
Hitler to power in 1933.

http://www.newstatesman.com/politics/politics/2012/06/angela-merkels-mania-austerity-destroying-europe