Good piece of economic propaganda from first word to the last: "Nobel Prize-winning economist Amartya Sen considers the alternatives." There is no such a thin

Good piece of economic propaganda from first word to the last: "Nobel Prize-winning economist Amartya Sen considers the alternatives." There is no such a thing like Nobel price Winners. There are Winners of Central bank's created Nobel Memorial price that of course say what the Central Banks want. To say that the crisis that we have today is the consequence of austerity is like saying that because you feel bad when sober the morning after getting drunk, the problem is being sober in the first place. There is no Western country today that is austere at all. All of them are spending more money that they have, most of it on bad investments. This always has ended on one place: destruction of capital. It should had been done in an ordered manner but they decided to kick the can ignoring the problem but making it worse in the future. Instead of removing the bad investments from the system, they had used the working part of the system to save the bad, actually rewarding the bad actors(that made a killing at the start of the bubbles.e.g 20% profits per year in Greece real state). When Greece was bankrupt years ago, the problem was not solved giving them more money, and indebting them even more. The proper solution was to bankrupt Greece as soon as they could not pay. Of course this would have bankrupted the irresponsible French and German banks that lend money to Greece in the first place. "Saving Greece" was in fact saving French and German banks and allocating the losses on public hands.