Euro bailout

Five tests that saved Britain from the fate of economic oblivion

Press quote (The Daily Telegraph)
Philip Whyte
27 February 2012

As Philip Whyte of the CER points out, "to propose such reforms as an answer to Europe's immediate growth problem is to miss the point: it is to provide a long-term [supply-side] answer to a short-term [demand-side] problem. Deepening the EU's single market is a perfectly sound idea. But it will do nothing to offset the immediate impact of private-sector 'deleveraging' on demand."