According to Chris Dillow,
Greece’s troubles cast doubt over George Osborne’s “new economic model”, which envisages a rebalancing of the economy away from public spending and towards exports?
after he has argued that tough fiscal medicine will be balanced by the creation of an export market as sterling weakens.
However
What if all countries are tightening fiscal policy? They can’t all have falling exchange rates.
Where do our exports go then
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