Sunday 11 December 2016

When it comes to default, fat cats and self-publicists alike have a lot to lose

Published 10/04/2011 | 05:00

IT OFTEN happens that when politicians start talking about an issue, the facts and figures are the first casualties. The raging debate on default is the latest such episode.

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Much of the discourse has been dominated by pro-European fat cats on one side, who, given their six-figure salaries and pensions, are insulated from the harsh realities.

Their view is that the mess we are in is all our fault; that we should be good Europeans, and that all sorts of bad things would happen if we did default or didn't accept our higher taxes.

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