Blog 2023 Malcolm Blair-Robinson

An idea to stimulate economic growth without further government borrowing. Written in plain English and very easy to follow, this is the only really fresh approach out there to the intractable problems of the UK economy, and it is just beginning to be noticed in important places. Buy! Download only .99p Paperback £2.99

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Set in the mid nineteen nineties, this fast moving thriller lifts the curtain on sex, sleaze and corruption in high places as the long reign of the government totters to an end, following the ousting of the iconic Margaret Thatcher. The novel catches the mood of those times with a host of fictional characters who engage in political intrigue, sex, money laundering and murder, pursued by an Irish investigative journalist and his girlfriend, the daughter of a cabinet minister found dead in a hotel room after bondage sex.

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News comes that the terms of a new Greek bailout have been agreed. Sadly this is once again kicking the can down the road. Because setting the terms of new loans which are mostly used to pay old loans, is the classic error which has been repeatedly made over the past five years by a split and confused currency union dominated by Germany. The key question which has to be settled first and upon which the viability, both economically and politically, of any new financing package depends, is the extent and effectiveness of the write down of Greece’s unsustainable debt mountain. All that has happened over the last five years is that new loans have merely kept afloat the idea that Greece is solvent when it is not and that big money has not been lost when it has.

There is a hint that the issue of debt relief will be discussed in the autumn. Let us hope so. At the moment we have the classic picture of the cart being put before the horse because the horse is too weak to pull the cart. But sooner or later the cart has to move forward and that will only happen when its weight is adjusted to the capability of the horse. If Euroland does not see this, the next Greek bailout crisis will not be about Greece surviving in the euro; it will be about the survival of the euro itself.