Their story is so strange it dominated Spanish headlines for several news cycles while it destroyed their reputations as well as the credibility of the young think tank they defrauded. They can't show their faces in Spain, yet she runs her production company out of New York and he's in Washington, DC, working for the IMF.
The EU is now officially back in recession. Unemployment is rising in all of the nations that have submitted to austerity plans. Even the Germans, who benefit from the rest of Europe's pain because capital flight produces very low German interest rates, are headed for a recession later this year, according to the OECD. Europe's economies are prisoners of Merkel's austerity demands on one side, and the speculative attacks of the bond market on the other. In principle, the ECB could extend unlimited support to government bonds, and take the profit out of speculation. Draghi's latest announcement seems to offer just that, but the austerity conditions render it next to useless.