• The post you are reporting:
   
  The crisis, Reg, is one of government debt and huge deficits.
  
  You do not solve a debt problem with more debt and that seems to be all you want.
  
  It is not coincidence that the stronger and more successful economies either have little or no deficit (Germany, Norway etc) and/or have much lower level of public sector spending such as many in our main competitor regions in Asia.
  
  No matter how you want to paint it all our problems arise from governments being irresponsible and not balancing the budgets during the growth phase of the economic cycle exasperated in the Eurozone by the lack of competitiveness in weaker countries caused by Euro membership.
  
  I will say one good thing about Gordon Brown - he did keep us out of the Euro against the wishes of Blair. But he also thought he had 'banned boom and bust' a bit like Canute trying to hold back the tides and ran the economy that way. The fact that many other European countries did the same thing is no excuse for him.

Report Post

Your Name

Reason