Tangled up in Blue
Certified Senior Citizen⭐
http://www.theguardian.com/business...ide:Pickable with editable override:Position1
No need to let the facts get in the way of a good argument.
One of my favourite facts about Spain (not mentioned in this excellent article) is that before 2008 (ie before the crisis) Spain was running a deficit lower than that of Germany's.In other words,in the case of Spain,it was the crisis that caused the country's huge deficit problems and not the other way around.
William Keegan makes a similar point about the UK:-
"Far too many people have swallowed Osborne's line, failing to appreciate that, with the obvious exception of Greece, the crisis was caused by the banks and other financial institutions, not public spending. It was the financial crisis that caused the bulk of the increase in the public sector debt. Moreover, a recovery was under way three years ago, until Osborne took measures to abort it."
No need to let the facts get in the way of a good argument.
One of my favourite facts about Spain (not mentioned in this excellent article) is that before 2008 (ie before the crisis) Spain was running a deficit lower than that of Germany's.In other words,in the case of Spain,it was the crisis that caused the country's huge deficit problems and not the other way around.
William Keegan makes a similar point about the UK:-
"Far too many people have swallowed Osborne's line, failing to appreciate that, with the obvious exception of Greece, the crisis was caused by the banks and other financial institutions, not public spending. It was the financial crisis that caused the bulk of the increase in the public sector debt. Moreover, a recovery was under way three years ago, until Osborne took measures to abort it."