Sunday, 30 January 2011

Fiscal austherity in the UK: TINA embarasses the government at Davos

The UK government faced a harder question time than expected about its fiscal austherity plan by journalists in the World Economics Forum at Davos. "Is there really no alternative" (TINA, a popular acronym among politicians in the UK) to a fiscal belt tightening in the UK?" is the hottest question by journalists. Paul Krugman suggested that the UK government is wrong-footed in his column in the New York Times some months ago. Has the message crossed the Atlantic? Should somebody place it in a bottle!? Or perhaps remind the UK government about what happens in the long run (see bullet point # 2 in the link) according to Mr J. M. Keynes!?

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