Posts Tagged ‘euro’

Yoking Around

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January 18th, 2012 Posted 8:27 am

“Maybe it’s time,” says Spence, “that I understood this European financial mess.”

“They’re yoked to the euro,” Admin says. “That exacerbates – or, as I heard someone say recently, exasperates – “

“No.”

“Yes. That exacerbates – you might even says leverages – the fundamental problem, which is an imbalance between productivity and government expenditure. They’re either going to have to be much more productive – which means working harder or getting younger fast – or reduce outlays.”

“Meaning austerity?”

“The dreaded A word.”

“Cheers.”

Welcome Brody, Oliver & Cooper, Buddy.

Rebecca: we hope you’re all right!

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