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  It is only the economic illiterate who thinks that you can solve a problem of excessive spending and debt with more spending and debt. Try it with your family finances, but don't come to me for advice in getting out of your mess if you do.
  
  Spending has to be cut because the last government were irresponsible spendthrifts and it is as simple as that. Sadly the same is true of many European governments too, utterly mad they were.
  
  The big problem now is, indeed irresponsible lending by banks, lending to governments in Europe that is. If they had not lent governments so much money governments would have had to cut their spending long ago.
  
  I have said before the Euro needs to be broken up and governments must get to grips and cut spending. That is the best and only way to kick start economic recovery.
  
  Anyone who thinks Osborne can slow down his spending cuts is simply bonkers. He is doing only the minimum needed to avoid us have the same kind of sovereign debt crisis we are seeing in the weaker economies in Europe. If anything Osborne must make bigger and faster cuts.
  
  High spending governments combined with being locked into the Euro is the big threat to the world economy and it is that which is having a detrimental effect on our businesses and growth.

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