So, what is Europe doing to overcome her economic woes? Tim Worstall:
Appoint a 70s style Keynesian as the Chief Economist for the European Central Bank? Ramp up deficit spending (already over 3% of GDP)? Lower interest rates? Run the printing presses? More State spending? Unfortunately, yes.
If that happens, inflation would increase dramatically and the Europeans will have even less purchasing power. Tim Worstall is way ahead of me and promptly offers a solution at the end of the post.