“This signals that the world is coming together” to save Europe, said Noriaki Matsuoka, an economist at Daiwa Asset Management Co. in Tokyo. “But it’s unlikely the euro will maintain its current strength. It’s unclear whether the market will be able absorb all the bonds being issued by the problematic euro-zone nations.”
One thing is certain we are going to be living in a different world when this is over. The Euro federalists are propping up with whatever cash they can scrap together to prop up the EU fantasy. This is the same organistion that cannot pass audit for decades at a time but wants to control European Banking.
So while all of this is going on the Deficit deniers are out in force- problem what problem ?
These people are solely concerned with the narrow party political blame game, trying to intellectualise the massive hole that we are in, promising that everything will continue as before- it will not. economic, military and political power is draining from Europe to the East. This brings a whole new as yet unseen realities.
“Labour failed to address inefficiencies in the public sector and some of the additional investment was wasted needlessly, but the overall spending was necessary at the time, as Blair discovered then and some senior Tories discover now.”
So the case for the defence seems to exonerate Labour for imprudence but is more ambiguous on wastefulness.”
What arrant nonsense. For thirteen years there was a credit binge, the public sector grew like topsy, investment ? three thousand new Laws, PFI , over a million new public sector jobs.
Unfortunately, the prosecution has a powerful counter case on the imprudence argument. Before moving to that, it is important to state that the Convservatives and Liberal Democrats are in the dock here also. They tied themselves to Labour’s spending plans (at least) so they also made the misjudgement.
Sharp intake of breath, yes Labour Uncut are right, but only because the Conservatives and Liberals are operating on the same Fabian playing field.
Does it not occur to any of these ‘intellectuals’ that that the common denominator is big big Government and its meddling in our economic and social lives.
Putting your head in the sand and hoping for the best is not a fiscal policy