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Home Publications Blogs Beat the Press When Business Is Bad, The Partners Quarrel: The Beginning of the End of Austerity?

When Business Is Bad, The Partners Quarrel: The Beginning of the End of Austerity?

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Friday, 07 June 2013 05:42

The Wall Street Journal reports that Olli Rehn, the European Union's top economic official, is very upset over a new IMF report acknowledging mistakes in the bailout of Greece. Rehn apparently feels no mistakes were made. Hey 25 percent unemployment? What could be wrong?

Comments (3)Add Comment
but...
written by Alex Bollinger, June 07, 2013 7:36
Rehn doesn't care about those people. So screwing them over isn't a mistake worth acknowledging.

Also: glad to be reminded that the WSJ quarantined its brand of stupid behind a paywall.
What I'd like to know...
written by Carl Weetabix, June 07, 2013 10:06
What I'd like to know is if Olli Rehn and others making these policies have ever known true poverty themselves?

It's possible that they have, but I'm inclined to suspect not. If they did I also have to wonder if they got the wrong message, that is rather than to work cooperatively to raise all up, to instead scramble to the top via all of the dead bodies below you.
I have to admit...
written by Carl Weetabix, June 07, 2013 10:11
That last comment is just plain mean, but it really does seem that they have no empathy. One other alternative, and probably more likely, is they are just brainwashed (self-deluded?) into thinking this is the "only" path that will benefit all.

Curiously this path has the side effect of conclusively benefiting a specific few though.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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