06-13-2014, 12:11 PM
This time around, Abe didn't ignore the economy. Backed by economic adviser Koichi Hamada and Bank of Japan Governor Haruhiko Kuroda, Abe first implemented the biggest monetarist push in world history. He went the opposite direction of Europe, and -- unlike the U.S. -- he gave every indication that the shift toward monetarism was permanent. The result: Japan has escaped deflation. The stock market is up, growth is way up and even wages are finally starting to rise.
Japan's Abe Is the World's Best Leader - Bloomberg View
Indeed, if you compare what they're doing in Japan to the muddle through in the eurozone, one could argue that the eurozone is the new Japan..
That's what they've been doing for two decades and there isn't much reason to think the outcome in the eurozone will be different.