"It is rather hypocritical when the Americans and the British, whose own
mountains of debt have reached a high point, try to lecture the Europeans.
One number is sufficient to reveal what a bad tactic this is. At a
time when the budget deficits of the US and Great Britain are about 8 percent,
the euro-zone members have almost managed to bring their deficits as a whole
down to 3 percent." And they are spot on: Europe may be going through a
painful time but at least it is doing something to address its problems.
America
continues to rely on the printing press.
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