Thursday 7 April 2011

Blessing in disguise?

Hard times ahead - but the alternatives looked even worse, after so many months (years?) of relative inaction.

The key question now for me is whether the painful debt-reducing cuts that will follow will also be complemented by a number of reforms that allow the country to grow its way out of debt, in a sustainable manner. This will require strong moves towards more flexible markets and more efficient institutions that the ruling, protected intelligentsia have always decried.

No comments:

Post a Comment