A comment on the European Central Bank solution vs. the Keynes solution

In this paper, I discuss something obvious, and to show something obviousat least in this casethere is no need to apply sophisticated theoretical models or fancy empirical techniques. I argue that the actual European Central Bank solution for the European countries in crisis is very far from what I callparaphrasing Davidsonthe Keynes solution. This crucial difference between the two solutions does not imply opposite ideological policies, but a severe problem that leads to a more profound crisis based on a deflation-debt problem and long-term unemployment.