Guess I’m confused. Italy has the 3rd largest public debt and Pritchard is saying they need ultra-loose money? Sounds like they need to do some belt-tightening like us, to me. Am I misunderstanding what he is saying, or is Pritchard a Keynesian?
AEP does not favor a crash. IMHO he's telling the socialists (especially the Germans) that if they want socialist union, they better start acting like it. They need to start spreading the wealth around or these PIIGS will crash them all quick.
AEP prefers the socialists to crash slowly so as not to crash the world quickly.
yitbos