Friday 19 January 2018

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


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.

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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