Greek Referendum Poll

[Admiral Yi]

Didn't the UK economy only start to grow after they eased off on the austerity?

Never heard anything like this.

Pretty please with a cherry on top Timmy, put a hard return after you quote someone.

[Richard Hakluyt]

Furthermore, operating just with your own narrow definition of austerity, the UK has among the highest growth rates in Europe, it has stabilized debt/GDP at 90%, and it has preserved its credit rating and is currently paying about 1.5% on long term bonds.

So no, you can't say "austerity doesn't work."

Didn't the UK economy only start to grow after they eased off on the austerity?

I'd say that Osborne's bark was worse than his bite, "austerity" has been pretty limited in these parts imo, borrowing has slowly fallen to about  4.4% of GDP pa..........with growth rates of 2.5 - 3.0% and core inflation of a couple of % that is hardly a problem of course.

[Crazy_Ivan80]

Right now their best option is the one set out by the IMF yesterday - a restructuring/partial elimination of the debt so that Greece has a reasonable probability of becoming solvent within the Eurozone.  If that doesn't occur then I agree, they will have to exit and bite the devaluation bullet.

there's no one stopping the IMF from making an example and eliminating the debt the Greeks have with it.

[Warspite]

Furthermore, operating just with your own narrow definition of austerity, the UK has among the highest growth rates in Europe, it has stabilized debt/GDP at 90%, and it has preserved its credit rating and is currently paying about 1.5% on long term bonds.

So no, you can't say "austerity doesn't work."

Didn't the UK economy only start to grow after they eased off on the austerity?

Osborne reduced the level of cuts quite quickly once the economy began to sputter badly in 2011/12 (I think then). In the end by 2015, he implemented the pace of cuts recommended by Labour.

[crazy canuck]

Right now their best option is the one set out by the IMF yesterday - a restructuring/partial elimination of the debt so that Greece has a reasonable probability of becoming solvent within the Eurozone.  If that doesn't occur then I agree, they will have to exit and bite the devaluation bullet.

there's no one stopping the IMF from making an example and eliminating the debt the Greeks have with it.

If only that was true

[Crazy_Ivan80]

Right now their best option is the one set out by the IMF yesterday - a restructuring/partial elimination of the debt so that Greece has a reasonable probability of becoming solvent within the Eurozone.  If that doesn't occur then I agree, they will have to exit and bite the devaluation bullet.

there's no one stopping the IMF from making an example and eliminating the debt the Greeks have with it.

If only that was true

in which case they need to keep their mouth shut.

[crazy canuck]

Right now their best option is the one set out by the IMF yesterday - a restructuring/partial elimination of the debt so that Greece has a reasonable probability of becoming solvent within the Eurozone.  If that doesn't occur then I agree, they will have to exit and bite the devaluation bullet.

there's no one stopping the IMF from making an example and eliminating the debt the Greeks have with it.

If only that was true

in which case they need to keep their mouth shut.

What do you think is the role of the IMF?