WeBlog

So one set of Economists have come out and said that Government spending should be cut in 2010 and another group have come out and seid no leave it 'til 2011.

Surely the key thing as Greece is finding out is that you will have to cut when your creditors turn off the tap. The debate that assumes that cutting is in the hands of the government is to some degree artificial. If we are to convince our creditors that we are going to go on a diet, like going on a diet we can't say it will start tomorrow. I fear we have no choice but to start now.