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In 2015 once more, it was not simply German conservatism that triumphed. The necessary complement to the containment of Syriza was QE. As it had been in the United States, it was a perversely complementary package. Austerity without QE would have been paralyzing in economic terms. QE without austerity would have been impossible politically for conservatives to bear.82 How tightly the two were coupled would become clear in the second half of 2015 as the tensions left by the eurozone crisis continued to rack European politics. The anti-Syriza front in the Eurogroup had reason to worry. First in ...more
Crashed: How a Decade of Financial Crises Changed the World
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