Euro bailout

Five tests that saved Britain from the fate of economic oblivion

Written by , 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."

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