Saturday, 6 March 2010

A weak pound is no substitute for making tough decisions on debt

"There are growing concerns not only about Britain's dire fiscal position, but that this country's political classes lack the grit and determination to do anything about it.The deeper fear stalking the markets, in fact, is that gutless policymakers have concluded, sotto voce, that a lower pound and a dose of inflation are just the ticket - the least worst way for the UK to "tackle" its fiscal predicament."

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