The Best Sentence We've Read On The European Crisis

Barcelona, Spain

Photo: flickr/ Moyan Brenn

From Tim Duy via Paul Kedrosky:Yes, you read that right…the Bank of Spain blamed missing deficit reduction targets on fiscal austerity and then suggests additional fiscal austerity as the solution.

In other news, the Greek deficit widened by 15% through September of this year “despite” austerity.

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