Another zinger from Krugman in today's NY Times. It's not the fault of the Greeks, it's the euro's fault! Blame the investors who in their belief that they were lending to a sovereign nation thought they had a right to repayment! Imagine the gall!
According to Krugman, Greek productivity is a mere 25% below the EU average. I mean, what's a few percentage points here and there?? My cardiac surgeon's medical school in Granada was only ranked 25 percentile points below his peers, but hey, cut my heart out!
He also claims that social expenditures as a percentage of GDP are lower than Sweden and Germany. 2 + 2 = 5 you say?
Isn't Krugman always saying that countries are not corporations. If countries borrow money, shouldn't they have an obligation to repay those debts? Blame the investors you say? Really??