U.S., Europe Nowhere Close to Ending Crisis, Krugman Says

By Gordana Filipovic – “Europe must accept there are limits to austerity and that additional austerity won’t do anything but bring societies on the verge of collapse,” said Nobel laureate Paul Krugman, an economics professor at Princeton University. “No country will have prosperity until Germany and the ECB have decided that too much pain has been inflicted.”

In the U.S., where the recovery is struggling to gain traction, new fiscal stimulus should be “directed to distressed individuals” rather than companies, Krugman said. more> http://tinyurl.com/9j4prhw

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