The IMF published three intriguing 'staff position notes' last week: Fiscal Space, Default in Today's Advanced Economies: Unnecessary, Undesirable and Unlikely, and Long-Term Trends in Public Finances in the G-7 Economies. The papers have already attracted much comment: Stephanie Flanders, FT Alphaville and Richard Murphy amongst others. If I can find the time I'll blog again in more detail on the papers, their conclusions and what they imply for the UK. But I think it's safe to say that the papers finally kill one pervasive myth: that the UK was in danger of becoming the next Greece. It isn't and it wasn't. Those who tell you otherwise are wrong, dishonest or both.
Stephen Boyd - STUC
The blog of the 'There is a Better Way' campaign by STUC staff about policy issues that are, or should be, in the news and guest contributors on issues of social justice. Written from a STUC perspective, contributions will often cover areas where there is yet no settled STUC policy and go into areas in more detail than our formal decisions. We welcome debate and we don’t expect everyone to agree with us, but we will remove any comments that are offensive, irrelevant or otherwise annoy.
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