“The debt deflation theory” by professor Irving Fisher would take EU authorities far in the battle against rising debt. As the American Revolution has shown, deflation is an underestimated danger with the potential to lead to economic disaster. If total debt grows too high, as happens in Western Europe, deflation gets mortal. The eurostat index depicts that deflation has dropped. The tendency of falling prices is seen in many countries. Similar to Japan’s crisis, the eurozone economy is in endangered by high debt ratios and sustained deflation. Zsolt Darvas from the Brussels think tank Bruegel equates deflation with bleakness. He accuses the European approach of the debt crisis and mentions the dilemma of states being pushed to “internal devaluations”. Vicious dynamics such as the “denominator effect” are witnessed in countries like Italy, where debt rises faster than GDP. The same is true for private debt, where with crash diets for erred states, economic self destruction was only enhanced. For Mr Darvas, let inflation elevate means escaping from the deflationary spiral. Responsible for money shifting to Germany is the ECB and non counteracting member states which fear Germany would leave the eurozone. Europe hope for global growth to fight the deflation virus.

Comments: 

This summary undoubtedly contains the most important information from the text "Europe already has one foot in ‘Japanese’ deflation grave", nevertheless in my opinion it is too detailed. A five-year-old would not really get what is written here. Maybe because the author of the summary uses many expressions that have also been used in the original text. 

Furthermore the beginning of the summary is too abrupt, not showing information regarding the author as well as when and where the article was published. By reading the first line "The debt deflation theory by professor Irving Fisher..." one gets the impression that this is the name of the original text and Mr. Fisher is its author. In addition the following historic facts do not have to be necessarily mentioned in this summary. 

In regard to coherence the text is missing some linking words. In the middle of the text the author of the summary speaks of "internal devaluations" for example, and in the next sentence he uses the term "denominator effect" without linking these two sentences. Another aspect why the text sometimes appears to be incoherent could be the fact that it is not divided into paragraphs, it is to say it is not really structured.