I have written an article on the debate about the upcoming budget for Business and Finance. It’s hidden behind a paywall, so I’ve attached the full text below the fold.
Category: Fiscal Policy
Jeff Sachs writes on fiscal policy in the FT: you can read the article here.
A few weeks ago I posted a link to a presentation put together by Spiegel Online showing the maturity profile of the debt of Ireland and other European sovereigns with high deficits. The exact nature of the calculations for Ireland were questioned at the time in the comments. Last week, I received an email from someone who clarified two points for me in relation to the Irish information in this presentation.
First, the €8.6 billion shown as Irish bonds due this year are almost all Treasury bills even though the chart is labelled “When Irish bonds are due”. Second, the Spiegel people selected “Republic of Ireland” as opposed to “Ireland Government Bond” when performing their Bloomberg search. This means that their numbers for future years include, for example, the Dublin Airport Authority and the Housing Finance Agency.
Morgan writes an overview of the Irish crisis at VOX: you can read it here.
The FT carries an article about the increased backing for the introduction of national fiscal rules across Europe: you can read it here.