Nobel prize-winning economist Paul Krugman says that Germany has begun imposing austerity measures far too soon and that it could endanger fragile economic growth. His comments are just the latest in a trans-Atlantic dispute about fiscal policy.
Bank levies and a global transaction tax: those two items will be at the top of German Chancellor Angela Merkel’s wish list when she travels to Toronto this weekend for the G-20 summit. With the economy on the slow road to health, so goes her logic, it is time to introduce far-reaching reforms of the global financial system.