Canada is not the model

Tim Duy has an interesting piece out that dovetails with something I had been saying in the comments here just yesterday. It has to do with austerity as an economic policy response in this post-crisis world. According to Bloomberg News, German Chancellor Angela Merkel used a trip to Canada as a venue to push for more austerity. As Tim notes, Bloomberg writes:

German Chancellor Angela Merkel renewed her call for austerity as crucial to tackling financial turmoil in the euro area, praising Canada’s economic example as she returned to the crisis fight after her summer vacation.

Merkel, facing European pressure to ease bailout terms and allow shared debt, and from global partners to do more to stop contagion, used a visit to Canada as the stage for her first public comments in a mo...


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