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How many Tories ****ed their pants when they heard Christine Lagarde? Watch

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    Christine Lagarde admitted that if austerity didn't follow when the deficit was so high then it sent shivers

    Is this the new "Labour put us in this mess?"
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    I have no idea how to make sense of "if austerity didn't follow when the deficit was so high then it sent shivers"
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    What she said was helpful to the Government as it allows the Treasury to put more pressure on the BoE for QE. Furthermore, she specifically said that if the deficit hadn't been reduced to its current level the UK would be in more trouble.
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    BoE for QE

    All I can think of when I read that is B&Q, and sausages and burgers.
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    Osborne needs to decide whether he regards the IMF as the voice of authority endorsing government policy or not. They have made some broadly supportive statements but their report of recommendations for the UK goes against Osborne's policy, they are warning the UK on lack of growth and recommending the BofE does further monetary loosening and that if growth does not pick up soon the Treasury should do some fiscal loosening in temporary tax cuts and higher infrastructure spending.

    At the moment Osborne likes to argue the IMF is on his side but they made these recommendations about government support to promote growth last summer as well, and if the UK continues to have low growth then that will be what the IMF starts to push harder and harder, so Osborne will end up going against what the IMF says and this will become part of the political debate two years down the line when they are preparing for the election.
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    Alas for that useless 3rd rate french lawyer the markets don't agree with her, she should take her 3rd rate advice elsewhere.
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    (Original post by prog2djent)
    I have no idea how to make sense of "if austerity didn't follow when the deficit was so high then it sent shivers"
    I couldn't remember the exact quote, it is essentially this

    http://inagist.com/all/205244294540431361/
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    (Original post by MagicNMedicine)
    Osborne needs to decide whether he regards the IMF as the voice of authority endorsing government policy or not. They have made some broadly supportive statements but their report of recommendations for the UK goes against Osborne's policy, they are warning the UK on lack of growth and recommending the BofE does further monetary loosening and that if growth does not pick up soon the Treasury should do some fiscal loosening in temporary tax cuts and higher infrastructure spending.

    At the moment Osborne likes to argue the IMF is on his side but they made these recommendations about government support to promote growth last summer as well, and if the UK continues to have low growth then that will be what the IMF starts to push harder and harder, so Osborne will end up going against what the IMF says and this will become part of the political debate two years down the line when they are preparing for the election.
    But is Osbourne ultimately right?

    And at the very least this is a source of good news or Osbourne as his austerity measures have now been confirmed as important.
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    (Original post by Herr)
    Alas for that useless 3rd rate french lawyer the markets don't agree with her, she should take her 3rd rate advice elsewhere.
    WHat do you mean, don't agree with her?
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    I was confused with what she meant when she said "interest rates should be scrapped". Surely not the Bank of England base rates?
 
 
 
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Updated: May 25, 2012
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