Why Europe Shouldn't Listen to Obama
Michael Sauga, Der Spiegel (translated) | October 4, 2011
Obama’s recommendation for Europe to increase spending as part of a wider-reaching economic stimulus is ill-advised. ++ Cheap credits and low interest rates have been at the heart of a failed US economic strategy. ++ Instead of promoting sustainable growth, the US government has been encouraging economic bubbles to form over the past several decades. ++ The US must bring competitive products to the global market, not flood its economy with more cash. ++ Europe should not heed America’s advice, but continue with its austerity policies.
