20111119 Follow Me 193 Legends of the Fail—— PAUL KRUGMAN

"not with a bang but with bunga bunga"-- it seems that it is a vivid description of the situation Euro is in now.

In the 7th paragraph, it seems not so convincible for writer to illustrate his opinion. I mean that it is a big point and I need more examples than just a country. But still I learn a lot from this passage in writing.

"the big determining factor for interest rates isn’t the level of government debt but whether a government borrows in its own currency." it seems obviously that interest rates is a rate which measures the ability that a country can return the money to the lenders. It is to say people prefer to believe that, if there is a crisis, Japan can return their money to them rather than Italy.

Last but not least, I think Euro is a good try, even it will end up with failure. Indeed, it will bring about a lot of disasters to many countries for a short term. But only this legend Fail can debunk lots of deficiencies in our financial market. It is not only an opportunity of many countries  to change their status in the financial world, but also an opportunity to test the knowledge we learn from our book.

PS：今天早上有场考试，考完了把昨天的补上。

Suddenly found that this article was written by Paul Krugman! I have been reading the <International Economics> written by him.

Thinks so much for sharing!

欧洲人为他们的傲慢付出了代价，现在危机四伏的欧洲寄望于中国去拯救欧洲，穷人接济富人？