One of the biggest PFI contractors has failed.
It’s time the FT smelt the coffee and woke up to reality. The market has failed here. It’s not a matter of dealing with it as a result: it’s a matter of living with that fact. No amount of words from the FT will now change that.
Any economy, any system of human organisation, needs a method of clearing out those doubleplusungood ways of doing things. The market does this by people going bust.
People going bust isn’t market failure, it’s the point of the market system.