Komileva and Krugman

John Maynard Keynes photographed in 1940 Photograph by Tim Gidal/Picture Post/Getty Images

The data is sufficiently weak to up the pressure on the ECB to cut rates in June. The only question is why the ECB has not cut rates already.
Lena Komileva, G+ Economics Ltd., in Lucy Meakin and David Goodman, Government Bonds Surge as Italian, Irish Yields Drop to Records, Bloomberg News, April 23, 2013.

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