A Non-Stimulating Argument

A program of fiscal austerity 
Is historically really a rarity; 
Though it brings, some maintain, 
Fiscal gain without pain, 
They perhaps overlook its severity.  

Harvard economics professor Greg Mankiw's blog contains links to both sides of this debate.

Overheard at the ECB

"Messieurs, I've developed a test
To determine if banks are too stressed;
It's been rig'rously checked
To be mild in effect,
So of course, it's politically blessed."

Overheard at the European Central Bank

"This bailout we've not had much luck at,
And it's us Greeks are running amuck at,
So we'll just watch, this week,
The World Cup en Afrique,
Which at least the Americans suck at."