Pier Carlo Padoan

Pier Carlo Padoan

In an interview not long ago to the Wall Street Journal, Mr. Padoan said that the growing mistrust  about austerity is just a “communication problem” because in his view  “we are getting results”.

He added: “Fiscal consolidation is effective, the pain is effective“.

In either case, we do not be surprised that Paul Krugman has drawn inspiration from the improvident declaration of Padoan to comment that “sometimes the economists who occupy public office give bad advice, and sometimes give bad recommendations, others still work for the OECD “.

And still other times, we might add, they become Ministers of Economy of a government that instead of making the country out of crisis threatens to sink it completely.

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