Trans-Atlantic turbulence: Nobel economist Krugman slams German austerity

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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.

Full story: Trans-Atlantic Turbulence: Nobel Economist Krugman Slams German Austerity – SPIEGEL ONLINE – News – International