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Summary of „Europe already has one foot in ,Japanese‘ deflation grave“ (the apostrophe should always be like this: ' or ", but never ,)

Ambrose Evans-Pritchard, in The Telegraph of October, 23 ,(the commas are not necessary because these are important information) 2013 analyzes Europe‘s debt crisis. Evans-Pritchard mentions two main problems, namely the risk of deflation and policy errors. The first problem is considered dangerous as debt can become wayward (I think it's only used of a person) and expensive to repay. The only real but unpopular way out is by cutting spendings. (uncountable) This problem face many countries such as France or Greece. (Many countries face this problem...)

The latter problem, videlicet (is it Spanish?) policy errors, means that different countries have different expectations. That makes it problematic to settle on a viable solution such as inflation. The author mentions Germany, which refuses to agree to it, as the Bundesbank worries about the consequences like the rise of estate prices. Therefore Germany threatens to retrogress (or return) to the D-Mark should Europe opt for inflation. However, Germany is soon likely to face deflation too as there has been no inflation since March.

The author proposes a strategy to enforce (the) said solution. Evans-Pritchard claims it would be best if all the Club Med members rallied and stood up to Germany and force its acceptance for this way out. This is how Europe would be able to avoid a major debt crisis like the one Japan had to endure.

[200 words without the title]

Nice logical structure and compact thoughts!