Monday, December 08, 2008

Brown and Sarkozy - the Lemmings

Gordon Brown, still acting out his role as the economic seer of the western world, is meeting French president Nikolas Sarkozy at Downing Street for a business summit to determine how to spend more taxpayer's money. Not invited is Angela Merkel, Germany's Chancellor, who has determined that Germany will not follow the lead of the "lemmings" and will instead seek to maintain a balanced budget. The BBC's Mark Mardell reports on this European difference of opinion on the 'Today' programme here (go to the 0723 piece). Amongst the points made are the reminder that Germany still harbours a fear of the impact of too much government fiscal irresponsibility leading to catastrophic inflation. A historical anomaly, or a good guide to government prudence? Merkel may not be as out of step with public opinion as her European fellows think.

Mardell's written piece is on his blog here.

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