Five tests that saved Britain from the fate of economic oblivion
Written by Philip Whyte, 27 February 2012
As Philip Whyte of the CER points out, "to propose such reforms as an answer to Europe's immediate growth problem is to miss the point: it is to provide a long-term [supply-side] answer to a short-term [demand-side] problem. Deepening the EU's single market is a perfectly sound idea. But it will do nothing to offset the immediate impact of private-sector 'deleveraging' on demand."