No one should have any illusions about how serious the crisis is in
Europe. New Greek elections may confirm what everyone
besides the European leaders know, which is that Greece will not accept the
austerity program imposed upon it in return of a bailout. Unless Germany blinks and re-negotiates the
Greek deal, at some time this summer the Greek government will run out of money
and default on both its debts and payrolls.
The implications for all of this for everyone else, including
and the United States
are severe. Britain
is already mired in a recession, and if its major trading partner, Europe, goes south the British economy will go south with
it. The Conservative Party which
has figured out the problem with the British economy.
Foreign Secretary William Hague has said there is only one answer to
's economic woes - hard
In a blunt message to the country's bosses, he said they should stop complaining and get on with the business of wealth creation. . .
“There's only one growth strategy: work hard,” Mr Hague said. “I think they should be getting on with the task of creating more of those jobs and more of those exports, rather than complaining about it.”
Wow, here it is where thousands of economists and tens of thousands of government policy experts just don’t know what to do and the British Foreign Secretary does. And the answer is so simple, hard work. Why didn’t the rest of us think up that solution.
Mr. Hague has given the rest of the world a double blessing. Not only has he come up with the solution to a weak economy, but he has also answered once and for all the question of why the Conservative Party in