We need tough love from IMF
Published 22/09/2010 | 05:00
JAMES N O'Sullivan's proposal (Letters, September 20) to remove us from the discipline of the bond markets is like removing parental control from delinquent teenagers.
Since we got access to a plentiful supply of cheap money, we totally lost the plot -- not only creating our own property bubble, but doing the same in a dozen other countries as well.
Now, with lots of delusional wishful thinking, we try to fool the markets with stories of "tough measures" to tackle our €20bn annual overspend.