Tom McDonnell: Mr. Rehn's recent open letter on fiscal multipliers; the effects of discretionary fiscal consolidation; and the relevance of economic theory and evidence, was a truly dispiriting and perplexing intervention.
It is easy to understand why the handling of the Euro crisis has been such an unmitigated shambles with people like Mr. Rehn running the show. We deserve better.
The Commissioner is taken to task by Jonathan Portes here and by Karl Whelan here. Both contributions are well worth a read.
Confidence indeed.
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