Aaaaand listening to George Osbourne's rebuttal is truly enraging.
He's babbling about how the UK is so great and how Greece needs to bring its public spending under control because that was where the problem was born.
Bring public spending under control. You mean like this:
Blue line is what was initially proposed for Greek spending in 2010. Red line is what actually happened, because the EU kept bitching.
As an aside, I realize I rely on Krugman for economic advice almost exclusively, which can be dangerous. However, it appears that his predictions have been more accurate than most. I'd be happy to bookmark any other economist's blog, if y'all have one you have confidence in.