"We are nowhere near a solution to the crisis"

FT.com / Columnists / Wolfgang Munchau - An L of a recession – reform is the way out

We are nowhere near a solution to the crisis. After committing errors of omission, global leaders are now producing errors of commission. The Americans dream about a return to a world of credit finance consumption while the Germans dream about assembly lines. In an L-shaped world, these are nightmares.