I’m in Kilkenny, Ireland where Kilkenomics V begins tonight. Kilkenomics is the economics festival in which economists and professional comedians combine to produce a blunt presentation of issues involving economics that have enormous effects on our lives. One of the traditions of Kilkenomics is that the travesty of some act by the Troika (the European Central Bank (ECB), the International Monetary Fund (IMF), and the European Commission (EC)) is revealed just in time to kick off the festival. This year, the Troika produced a double-barreled blast. First, the ECB’s November 2010 letter extorting the Irish government to inflict austerity and produce a second Great Recession in Ireland was leaked.
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