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Category: Uncategorized
Lorenzo Bini-Smaghi addresses this topic in this speech.
We have a new fiscal council. Congratulations to the five appointees, they’ve got a lot of work to do. Which of course begs the question–what should they be doing?
Jarek Rostowski is finance minister of Poland. Writing in the FT, he argues that a record of compliance with the agreed EU/IMF programme should lead to a dramatic decline in the interest rate, with the near-complete elimination of the margin over the cost of funds. The article is here.
The government has announced the establishment of the Irish Fiscal Advisory Council – the details are here.
Congratulations in particular to regular contributor John McHale on his appointment as Chair of the Council. Best wishes to all the Council members on their new task.