It’s the case where European is at odd with their opposite Atlantic counterpart, US. To curb deficit, European led by Germany prefers the austerity measure by cutting down the spending heavily. US thinks this is not a good idea especially when global economy is still in recovering mode. Obama lobbied hard for European to spend, but Merkell said sorry, this is European way of solving the problem. Prominent economists from US such as Krugman is arguing that by slowing down the spending, the economy will not get any better. This translates to low...
