budget deficit

Chancellor Merkel: hard times ahead. Photo: regierungonline

Greek finances and British budgets

This week, we look at press comment on Germany’s response to the financial crisis in Greece, and find out what issue has been strangely absent in the British election campaign.

Frage, Thema

Wahlkampf

Spot the difference Illustration: Bernhard Förth

Back to Buiter

When the great man talks, it pays to listen. Or, in this case, to read. The man in question is Willem Buiter, now chief economist at Citigroup. In his previous incarnation he was the most entertaining blogger on economics. The topic: Greece and Britain.

Chef-Volkswirt

In seinem früheren Leben; hier: davor

The truth and nothing but, er, like the truth

"There are three kinds of lies," said former British prime minister Benjamin Disraeli. "Lies, damned lies, and statistics." Greek governments seem to have gone out of their way to prove Disraeli right. That must now change.

verdammt

sich besondere Mühe geben

The promise of pain

Normally, politicians tell voters how much better their lives are going to be if they vote them into office. But every now and again, political parties follow another strategy — promising as much pain as possible.

ab und zu

Schmerzen; hier: Entbehrungen, harte Zeiten

Up and out

Because its public finances are in such a mess, Britain has announced significant tax increases for those with higher incomes. This is an attempt to make Labour voters feel good before next year's general election. It is unlikely to work.

Schlamassel; hier: Schwierigkeiten

Parlamentswahlen

Words of wisdom

"For more than a year now, a recession has been developing, and is clearly now accelerating. It began when life went out of the property market." That's true, of course, but when exactly was that comment made — and by whom?

(sich) beschleunigen

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