The latest column from Ambrose-Evans Pritchard
-- The Telegraph's
star finance columnist -- is a must read. The title: You are all wrong, krugerrand value printing money can halt Europe's crisis
As you can surmise, he thinks the idea that fiscal discipline can save Europe is nonsense
. What's needed is an ECB that's willing to print money and backstop
the various governments. What's really great though is Pritchard's first sentence...
This will enrage many readers — especially the "Austrian" internet vigilantes — but I have to say it.