Krugman writes: "It’s worth pointing out, by the way, that while conservatives have seized on European sovereign debt for vindication, the euro story is very different from the story conservatives were originally telling. Italian rates are high because of solvency concerns, while the original right-wing story for interest rates was all about competing for private funds, not worries about repayment."
By all means take issue with the analysis, but I don't think it usually amounts to a contradiction.
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