UK austerity push 'deeply destructive' says Paul Krugman
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed May 30, 2012 11:43 am



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INTERNATIONAL. Nobel laureate Paul Krugman said the U.K. government’s austerity plan is “deeply destructive” and it should instead step up spending to boost the economy.

The push for austerity “is failing dismally here,” he said in an interview on the BBC Radio 4’s Today program today.

“The whole intellectual framework has been tested to destruction,” he said “and yet the government is insisting that it will not revise” its austerity plan.

“Britain should be spending a couple of percent of GDP more,” Krugman said. “By all means have a plan for cutting the deficit, for reining in long-run spending, but not now.”

Editor's note: If more spending and debt is the solution for a country's deficit, then Greece should have been a European economic power.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 20, 2013
SAUDI ARABIA. In mid-April, an unusual exhibition was held in London, highlighting the role Muslims played in saving Jewish lives during the Holocaust. At the exhibition, people saw love and harmony between people of different faiths.
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UAE. A lack of available information and market data has prevented businesses and government from effectively evaluating the potential for e-commerce growth and development in the region.
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UAE. 20% of Sovereign Wealth Fund new assets allocated to private equity; Property and infrastructure are not the big SWF "alternative investment" story, according to 2013 Invesco Middle East Asset Management Study.



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