Krugman: "Revolting" Europeans

Paul Krugman's Op-Ed piece in the New York Times today looks at the failure of Europe's leaders to address their unemployment and other economic woes, opting instead to rely on austerity measures to restore "confidence" in the markets.

"What’s wrong with the prescription of spending cuts as the remedy for Europe’s ills? One answer is that the confidence fairy doesn’t exist — that is, claims that slashing government spending would somehow encourage consumers and businesses to spend more have been overwhelmingly refuted by the experience of the past two years. So spending cuts in a depressed economy just make the depression deeper."

Krugman has been harping on Europe's economic problems for some time now, and it seems the voters in many European countries are taking notice and "revolting." You can read the entire article here.