No Triumph for Austerity

Paul Krugman - It was, I suppose, predictable that Europe's austerians would claim vindication at the first hint of an economic upturn. Still, an op-ed by the German finance minister, Wolfgang Schäuble, in the Financial Times, in which he claims complete vindication because Europe has had one, count it, one quarter of growth, is pretty awesome even relative to expectations.  Read more.