''FISCALIZATION AND HELLENIZATION'' by PAUL KRUGMAN

''..We know now that the apparent fiscal health of Ireland and Spain rested largely on housing bubbles — but that was by no means the official view at the time. And nothing I’ve seen explains how new fiscal rules would prevent a similar crisis from happening again.

The way European officials are aggressively rejecting the obvious facts, and insisting on a story that fits their preconceptions, never mind the data, is striking. Why, they’re behaving almost like …Americans..'' N.Y.TIMES

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