Merijn Knibbe — Bundesbank calls for higher wages across Eurozone

…this is a game changer (via left foot forward): the Bundesbank finally understands. Economic policies aimed at financial deregulation, low wages and asset price increases instead of low unemployment, high employment and high income have failed.

"Finally understands," or getting cold feet at the carnage and prospect of dire potential social and political outcomes.

Maybe it will come to be called "the Piketty Effect."

Real-World Economics Review Blog
Bundesbank calls for higher wages across Eurozone
Merijn Knibbe

But see Bill Mitchell, No fundamental shift of policy at the Bundesbank

Lars Syll — Why austerity is no solution to economic crises

Why austerity is no solution to economic crises

Lars P. Syll | Professor of Civics, Faculty of Education and Society, Malmö University

Mario Soares — Europe on the Edge of the Abyss

In this column, Mário Soares, former president and prime minister of Portugal, writes that the economic policies being enforced in the so-called “periphery” of the eurozone threaten to destablise the entire Union. Fuelled by a neoliberal ideology that puts usurious markets before citizens, the austerity regime could result in a regression of civilization.

Inter Press Service
Europe on the Edge of the Abyss
Mario Soares

Tim Duy — When Can We All Admit the Euro is an Economic Failure?

The last month of data flow from Europe is nothing short of depressing. It seems that the history of the Eurocrisis can be summed up as a repeated effort to snatch failure from the jaws of defeat. The Euro and the policy framework that supports it is now clearly inconsistent with anything but sustained recession.... 

Bottom Line:  How high does unemployment need to rise, how much output needs to be lost, how much poverty must be endured before European policymakers realize that the policymakers see that the framework supporting the Euro politcally is an economic failure?

Amen.

And the morons eurocrats are calling for even more "fiscal consolidation."

Tim Duy's Fed Watch
When Can We All Admit the Euro is an Economic Failure?
Tim Duy

Admire austerity...the Great Latvia Success Story!

From Zerohedge.

Funny, but sadly true.