Saturday, October 13, 2012
Christine says (and other economic gobbledegook)
"George Osborne's drastic deficit-cutting programme will have sucked Â£76bn more out of the economy than he expected by 2015, according to estimates from the International Monetary Fund of the price of austerity. Christine Lagarde, the IMF's managing director, last week caused consternation among governments that have embarked on controversial spending cuts by arguing that the impact on economic growth may be greater than previously thought (playing with numbers...but to what political agenda?).