Wille Fahler at the Ministryoftruth gives an interesting take on the economic crisis in On Money & Recessions - Recessions are not the problem. The difficult question is if this could mean that the many large programmes enacted by governments all over Europe are in fact bad investments? What do you think?
The German and Swedish finance ministers, Peer Steinbrueck and Anders Borg, openly criticized the European Commission, accusing it of posing too many problems on the case of the national aid plans to the banks.
From a Swedish point of view, it is interesting that minister Borg is criticising the commission so openly, in his opinion on how to restore confidence in the credit system.
The global financial crisis is testing the eurozone.
Tony Barber of the Financial Times writes about the ever-widening spread between the yields on German and Italian 10-year government bonds, implying that investors lack full confidence in Greek and Italian fiscal policies.