The lights are going out in Europe … literally

Financial problems have caused Spain to cut electricity to road lights on its highways.

http://www.bloomberg.com/news/2012-05-10/lights-go-out-in-spain-as-cuts-plunge-highways-into-darkness.html

In Greece, parents are giving up children they say they cannot afford to feed.  What is happening to Europe?  http://www.dailymail.co.uk/news/article-2085163/Children-dumped-streets-Greek-parents-afford-them.html

How can political leaders in good conscience still call fo rmore austerity? 

I think we will have to brace for worse things to come.  Leaders who have spent so many years now pursuing wrong-headed policies will not easily admit their errors and change.  Martin Wolf said it well two weeks ago: now I can understand how in the 1930s world leaders created the Great Depression.

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About jackgoldstone

Hazel Professor of Public Policy at George Mason University
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