Paul Krugman stellt folgendes richtig:
[J]ust about every report states as a fact that excessive [sovereign] borrowing caused the crisis. [...] So, one more time, here are some data (from the IMF World Economic Outlook database). Debt as a % of GDP for Spain and Italy:
Before the crisis Spain had low and declining debt. Italy had high debt inherited from the past, but it was steadily working that debt down relative to GDP. Neither country was being profligate — that’s just not what happened. Since the crisis debt has been rising relative to GDP, but that’s what happens when you have an economic crisis.
Quelle: NYTimes
