http://www.abc.net.au/unleashed/4667484.html
"One possible justification of the two diametrically opposed policy
settings in Europe and in Japan might be that these two advanced
economies are facing different challenges. Europe's leaders like to
imagine that, unlike Japan, Europe is not facing a long-lasting
recession, let alone deflation. For them, there is no need for eurozone
governments to loosen up the purse strings, or for the ECB to flood the
financial markets with digital euros. What matters to them is that the
crisis is utilised to force upon the eurozone's laggards (the Club Med
nations in particular) the reforms that will help them regain their
'competitiveness'."
Is there method to this madness?
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