Gloomy Martin Wolf

2 February, 2011

FT economic commentator Martin Wolf has an interesting piece summing up what he sees as having been changed by the financial crisis.  It includes this:

According to the IMF, general government net debt of the Group of Seven high-income countries will jump from 52 per cent of GDP in 2007 to 90 per cent in 2015. This does not mean hyperinflation or default. But managing public finances will govern politics for the foreseeable future. It will be a miserable experience.

With knobs on, for Ireland.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: