{"id":32883,"date":"2012-06-05T15:46:46","date_gmt":"2012-06-05T15:46:46","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/washington_post_robert_samuelson-europes_grim_choices\/"},"modified":"2012-06-05T15:46:46","modified_gmt":"2012-06-05T15:46:46","slug":"washington_post_robert_samuelson-europes_grim_choices","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=32883","title":{"rendered":"(Washington Post) Robert Samuelson&#8211;Europe&#39;s Grim Choices"},"content":{"rendered":"<p>Europe is at the abyss \u201d\u201d again. Its turmoil is rattling global stock markets and stoking fear and bewilderment. The obvious question is, what\u2019s the solution? The answer is, there is no solution. Europe faces choices, some bad and others worse. Unfortunately, it\u2019s unclear which are which. The best that can be imagined is that Europe lurches from crisis to crisis and that its slumping economy weakens the already fragile global recovery. The worst is a massive flight from the euro and an economic free fall that resurrects the dark days of 2008 and 2009.<\/p>\n<p>Can anyone doubt that the euro\u2019s creation in 1999 was a huge blunder? It aimed to promote European prosperity and unity, but it\u2019s doing just the opposite. The very belief in its early success reduced interest rates in Europe\u2019s periphery (Greece, Portugal, Spain, Ireland, Italy). Low rates fed credit booms and housing bubbles that, once burst, caused recessions and swollen budget deficits.<\/p>\n<p><a href=\"http:\/\/www.washingtonpost.com\/opinions\/europes-grim-choices\/2012\/06\/03\/gJQA17q7BV_story.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Europe is at the abyss \u201d\u201d again. Its turmoil is rattling global stock markets and stoking fear and bewilderment. The obvious question is, what\u2019s the solution? The answer is, there is no solution. Europe faces choices, some bad and others<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=32883\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,50,460,582,589,595,592,149,591,200,590,144,151,585,596],"tags":[],"class_list":["post-32883","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-international-news-commentary","category-european-sovereign-debt-crisis-of-2010","category-consumerconsumer-spending","category-corporationscorporate-life","category-credit-markets","category-currency-markets","category-economy","category-euro","category-europe","category-european-central-bank","category-foreign-relations","category-politics-in-general","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/32883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32883"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/32883\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}