Friday 9 December 2016

Debt wish

Published 31/08/2011 | 05:00

•Things are not quite as hopeless as they appear when not only is the unthinkable being thought, but actually mentioned; I refer specifically to the idea of debt forgiveness. Of course, the great and the greedy have the insolence to compare this to moral hazard, something which they are fully prepared to extend to themselves, but nobody else.

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We should at least contemplate the probability that very possibly this may well be the only thing that separates us from worldwide financial Armageddon, so to speak.

Jubilee debt is a very ancient idea, which has previously worked and for once could we learn from history rather than repeating the same mistakes and reliving Groundhog Day continuously?

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