Quote of the day - Monday

"You cannot borrow your way out of Debt."

George Osborne

Comments

Tim said…
Isn't that what we are expecting Greece to do ?
Chris Whiteside said…
Unfortunately some of the Eurozone governments do seem to be expecting this.

I think Greece has a choice between a managed and negotiated debt restructuring, which will mean accepting a considerable amount of pain, and an unmanaged default, which will be far worse.

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