"Austerity" has Robbed European Authorities of Credibility

Ending Greece’s Nightmare (Paul Krugman) from the New York Times
"... now that Mr. Tsipras has won, and won big, European officials would be well advised to skip the lectures calling on him to act responsibly and to go along with their program. The fact is they have no credibility; the program they imposed on Greece never made sense. It had no chance of working."