Stephanie Flander’s must have got hold of Gordon Brown’s crystal ball now that he has no use for it for predicting our economic future…’no more boom and bust’.
Here she is in 2011 telling us to relax, it’s all good, the future is rosy, unless you’re Greek:
‘Everyone says that heightened talk of a Greek default is proof that last year’s bail-out has “failed”. But you could make a strong case for the opposite.
In reality, all that the Greek support programme last year was ever going to do was buy time. And that is exactly what it has done. It just hasn’t bought quite as much as governments hoped.
Governments were right a year ago to kick the Greek problem down the road and buy the system some time.
One year on, they are roughly back where they were, facing the same choice.
What’s changed, from a Greek standpoint, is that its government is now much less popular than it was, and it now has even more debt to repay.
Europe is enjoying a decent recovery.
From their perspective, buying time has worked for the eurozone. It just hasn’t been working out so well for Greece.’
Wonder how that Greek thing turned out?
Funny how she thinks ‘kicking the can down the road, doing nothing, buying time’ is a solution for Europe but isn’t prepared to wait out Osborne’s policies and give them time to run their course.