Oh God: Krugman Insults Intelligence of Merkel/Steinbruck

Oh God, Paul, say it ain't so:

Nobel laureate for economics Paul Krugman has slammed the German government’s handing of the economic crisis, saying Chancellor Angela Merkel and Finance Minister Peer Steinbrück have completely failed to understand the situation.

“They are still thinking in the category of a world as it looked one or two years ago, with inflation and deficits as the biggest danger,” he told Der Spiegel.

“The result – they have misinterpreted the seriousness of the economic crisis and are wasting valuable time – for Germany and for Europe. Maybe they lack intellectual flexibility.”