I read this, as usual passionate, piece about the evils of cuts and the benefits of fiscal expansion with gradually rising eyebrows.
Hari is pointing to Ireland as an example of what is going to happen to Britain. Well, OK, fair enough you might think. They\’ve cut and yet it hasn\’t sorted out the economy (as yet).
D\’ye know, he manages to get through a whole piece about what the Irish experience means for us without even noting that they\’re in the euro and we\’re not? That we can vary our exchange rate, set our own interest rates, indulge in quantitative easing, and that Ireland cannot?
That we have the option of countering recessionary effects by various monetary means, while Ireland cannot?
Do you think he actually understands this?