An Economics Lesson For Professor Sinn

Writing in Project Syndicate, Hans Werner Sinn, Professor of Economics and Public Finance at the University of Munich, bewails the continuing growth of sovereign debt in the Eurozone. He claims that because the European fiscal compact has not been properly enforced, southern countries are flouting the rules and allowing their debt/gdp ratios to rise to unsustainable levels: Had the compact been enforced, Italy would have had to reduce its debt/GDP ratio from 121% in 2011 to 112% in 2014. Instea...