Abenomics is In, Merkel's Austerity is Out!
About time too! We are all fed up with German austerity over here in Europe and hopeful that Abenomics will work for Japan (it already looks like it is, Japan is perking up)...
You want additional proof that the world of finance has finally understood that austerity is NOT a cure for debt? Look at Standard & Poor's latest downgrading of Italy to BBB, just two grades above junk status. S&P's reasoning? Italy suffers from a growth problem - over the last decade, real growth has been...negative, -0,04% ! So it's not the debt that's the problem, it's lack of growth!
Good-bye austerity! Ms. Merkel is poised to win re-election on 22 September. But will she have learned her lesson?
What do you think?