Straight after the Greek referendum was announced actual polling evidence seemed quite light, but there has now been the expected rush in polling. Polls from a handful of different companies are all painting a consistent picture of YES and NO being neck and neck. In fieldwork conducted on Monday and Tuesday there was still a small lead for NO, but across all the polls conducted in the last couple of days the position has been almost a dead heat.

The most recent polls are below:

Metron/Parapolitik (Thurs-Fri) – YES 46%, NO 47% (No ahead by 1%)
GPO/Mega TV (Wed-Fri) – YES 44.1%, NO 43.7% (Yes ahead by 0.4%)
Alco/Proto Thema (Wed-Fri) – YES 41.7%, NO 41.1% (Yes ahead by 0.6%)
Ipsos (Tues-Fri) – YES 44%, NO 43% (Yes ahead by 1%)
Uni of Macedonia/Bloomberg (Thurs) – YES 42.5%, NO 43% (No ahead by 0.5%)

In the week we also had the monthly ComRes/Daily Mail poll. Latest voting intention figures are CON 41%, LAB 29%, LDEM 8%, UKIP 10%, GRN 5%. Tabs are here.

UPDATE: And the actual Greek result (with just over a third of the votes counted) looks like a solid victory for NO, absolutely miles away from what the Greek polls were showing. Ouch! I don’t know enough about Greek politics or Greek polling to hazard any guesses as to what they got wrong, but I imagine a country in economic turmoil is not the easiest to poll correctly in terms of contacting people, or to getting any firm demographic figures to weight or sample by – and that’s before you get to whether people feel able to answer the question honestly. As it happens most of the Greek polls were pretty good at their general election earlier this year, but clearly not this time.


439 Responses to “Latest Greek referendum polls”

1 5 6 7 8 9
  1. @ Millie

    As a centre-lefty recent events have switched me from a lifelong pro-eu voter to leaning NO. The anti-EU side unfortunately still suffers from a surfeit of obsessives who tend to make people dismiss them. If an articulate leadership and campaign emerges on the NO side then it could get interesting. If the NO campaign is dominated by Nigel and UKIP and has racist and “little Englander” overtones then it will not build a broad enough coalition to succeed IMO.

  2. @Colin

    “Omnishambles Osborne is a thing of the past Carfrew-indeed it was probably the catalyst ( according to an article in The Times today) for Hesletinian, Ordoliberal , One Nation Osborne.”

    ————

    You may be right about that. Although, did you notice that straight after the election they rather rowed back on the Northern hub thing, putting off the transpennine rail plans?

    The southern upgrade’s still going ahead though!!

  3. @MILLIE

    “Expanding further on your theme, a Grexit which turned out to be, on balance, quite successful for the Greek economy, would be simply devastating for the Eurozone, although not necessarily for the EU.”

    ————

    Well it could be, but if instead they could relax the Austerity schtick…

  4. LIZH
    @ALLAN CHRISTIE
    I bet you if there is a Grexit we won’t get a referendum or it will be postponed indefinitely.
    ________

    It wont be cancelled because that would just speed up the already splitting Tory party into two but yes Cameron would probably try and postpone the vote until conditions calm down.
    ……..

    Carfrew

    My post was tongue in cheek and I agree with Millie’s post. In fact this Millie is much better than the Ed one. ;-)
    ..
    “As Millie has already pointed out before you posted. You shouldn’t just read the Scotty posts Allan!!”
    ……

    That’s not true, I like to keep up to date with the debates on English police commissioners and ensure they are delivering great value for money.

  5. COLIN
    What an alliance emerging-the Labour Left & UKIP.
    Where’s my cross , & garlic :-)
    _______

    You missed out the Tory gang of 50 in that alliance and I would say Tory voters are split and confused over the situation with Greece and the Euro/EU,

    Half want out of the EU and see Greece as the perfect reason and half support the EU because of the austerity package they are imposing on the Greeks………..and that’s just the Tory MP’S.

    Come on Colin, admit it, the Tories all over the place on Greece, does it benefit them or not?

  6. @Millie

    “Expanding further on your theme, a Grexit which turned out to be, on balance, quite successful for the Greek economy, would be simply devastating for the Eurozone, although not necessarily for the EU.”

    Probably why it won’t be allowed to happen. I think all the momentum now is towards a compromise and the signs of a growing disagreement between Hollande and Merkel suggest to me that Merkel is becoming increasingly isolated. She’s now under enormous pressure to give some ground and provide some wriggle room for those who want a deal.

    With some obvious concessions from both sides today, I expect a messy agreement and deal to emerge shortly. As with all deals, they’re usually struck when both parties realise that they’ve got too much to lose by failing to agree.

    Mind you, as the great old TU leader, and ace negotiator, Vic Feather used to say, even if you’ve had the better of the deal, always leave the other side with enough money for the bus fare home! Some may say this is saving face and nobody likes to leave a negotiation feeling humiliated.

    Tsipras needs a bus ticket home. I hope he gets one.

  7. @Carfrew

    “My post was tongue in cheek and I agree with Millie’s post.”

    —————

    That’s a relief ‘cos now Colin and Barney don’t have to worry about what they were doing with all that porcelain…

  8. I will currently be voting Yes, but will give the No campaign a fair chance to convince me. The events of the past week have made me think they’ve now got a better chance of that.

  9. ALLAN

    I by “all over the place”, you mean that opinions on membership of the EU are varied, and not the product of an imposed authoritarian Party Groupthink-yes I agree.

  10. The Euclid on the Block could make all the difference.

  11. CB11

    @” when both parties realise that they’ve got too much to lose by failing to agree.”

    I think thats exactly where the parties are :-

    Tsipras desperate to avoid the catastrophe of a new currency, and to meet his electorate’s expressed desire to stay in EZ..

    Merkel desperate to avoid explaining to her voters how much German taxpayer money she has lost in a Grexit & Default.

    I doubt there will be much difference between this deal & its predeccessor on bailout conditionality.

    It is Debt write off which looms large.

    How important to Tsipras is it to achieve this?

    How important to avoid this is it to the many small EZ members now speaking against it?

  12. While the attitude of the “EU hierarchy” towards the Greek nation may immediately turn UK voters towards the “out” side, it strikes me that there is a more worrying political calculation.

    For those (both within the UK and in the rest of the EU) who wish to see the UK’s EU membership continue, in the event of a Greek Euro exit (or even EU exit, not that it seems likely) there may be an interest in seeing the Greeks suffer, solely in order to influence the UK voters towards the “in” side. Pour encourager les autres and all that.

  13. Concerns about the UK, serious as they are, will not be high on the agenda of Eurozone governments at present. Concerns will not, I think be even primarily about Greece, despite their huge importance. Number one of those concerns will be to make sure there are few effects on those in the ajoining beds.
    Markets give a lot of comfort here, “calm markets give creditors no reason to worry” FT. There is no downward pressure on the Euro and those governments who might have feared punishment at the ballot box for failing to take a similar stand are queuing up to put the boot in to Greece e.g. Ireland’s Mr Noonan..
    The Wall Street Journal is already treating the Greek aspect as history stating unequivocally that Greece has become the second country to vote itself out of the developed world following Argentina.
    The idea floated here of “concessions today from both sides” has not happened because as far as I can tell nothing has happened and I think something did have to happen.
    For the UK, the biggest impact may be a large number of Greek people coming her. Now that just might impact on a referendum.

  14. Strange goings on in Brussels-what are Syriza playing at?

  15. Carfrew
    Drachma? The general problem is the obvious one of confidence which is a particular hurdle for Greece as it has I believe the worst defaulting record in the world. It is very difficult to see anyone having much faith in the current government to go to the wall in defence of the value of the new currency particularly when it has been so clearly signalled as an inflationary tactic.

    Most launches of new currencies have had to have the supportive statement of determination to preserve the value of the currency which has often meant a pegging mechanism to another. This is the case, for example, with the Croatian Kuna which is pegged to the Euro. Of course the other method of defending a currency is the deployment of gold or hard currency reserves. Nothing need be said there.
    In a more tactical sense, the Financial Times today lays out some of the practical immediate barriers which include a determined reluctance of others to share a centralised settlement system with Greece which would mean that every transaction would be a separate two-sided deal with much higher latitude for default.

    If you look across the Balkans most countries are either using the Euro as a de facto currency or have a strong peg to the Euro or are in the process of joining the Euro. I think that if ejected from the Euro de facto use is the most probable outcome. But I am not an expert.

    Mention is also made of Greece setting its own interest rate. I fear this ignores the realities. You can gain an impression of what interest rates would pertain in Greece by looking at the front page of the Financial Times which records the return on one year bonds to Greece at over 50%, an annual interest rate greater than the current cash value of the bond which you can buy for 47% of its face value.

  16. I’m astonished by all this “poor Greece is being given a hard time by the EU” stuff on here. They have borrowed something in excess of €300bn and in more than 5 years have failed to tackle the root problem: their dysfunctional government system, bloated public sector and tax-avoiding oligarchy.

    So what should the troika do? Shovel in still more money without any commitment to real reform? Write off Greece’s debts when that wasn’t done for Ireland and Spain which manned up to their own problems, taken it on the chin and are both now growing faster than the UK?

    Anyone saying “this makes me want to vote No in the referendum” should be able to explain exactly why the taxpayers of the EU should pour more money in.

    I am appalled by mindless austerity as anyone: to describe Osborne’s policies as neanderthal is to do an injustice to our old relatives. But what Greece needs to do to survive in the modern world – regardless of whether it’s in the EU or out, or uses the euro or the drachma – is to institute real economic reform. That’s what the troika is saying – if you want more money, you’ve got to put your house in order. Which is not bullying.

  17. @Somerjohn – I think the countervailing point is that some reforms have been made, the Greeks have accepted huge cuts in things like pensions (40% cuts for existing pensioners – absolutely crippling for many) yet their debt to GDP ration has risen from 113% to 180% under the sage guidance of the Troika.

    Yes, the Greeks do bear a responsibility for all of this, but being trapped in a defective currency removed one of the key market tools that allows countries time to adapt to changed fiscal circumstances.

  18. Somerjohn

    It’s the old canard. If I owe you €300 and I cannot pay, I have a problem. If I owe you €300bn and I cannot pay, YOU have a problem.

    Or, if you prefer analogies, it takes two to do the crockery dance. The one smashing the plates on the floor is the obvious one, but he couldn’t do it if there wasn’t someone else with a ready supply if plates to feed him with.

    In this case, yes of course previous Greek Govts smashed plates left right and centre. But they were supplied with plates by utterly stupid lending by French and German banks.

    When this came to a head in 2010, the logical approach for Greece was immediate Grexit and default. But that would have destroyed the EZ banking system. And that could not be countenanced. So the bailout was not to save Greece. It was EU taxpayers’ money used to allow Greece to pay the banks and save the banking system.

    THAT is the story that Merkl refuses to tell her electorate. Greece has been pushed into a horrific nightmare with Great Depression poverty and unemployment, EU taxpayers have unsecured loans which they will never get back the banks have taken just a fraction of the pain.

    If a Greece had defaulted and left the Euro 5 years ago, they’d have had 18 months of hell but then a way forward. Instead, they have allowed the EZ banks to survive, but at a penalty (for Greece) of 5 years of hell, with absolutely no sign of an end to it.

    Greece has made phenomenal sacrifices and has averted a EU-wide Great Depression as a result. But Merkl et al have painted themselves into corners domestically by refusing to tell that story to their own electorates. The IMF admitted last week that Greek debt is unsustainable and there has to be a write down. But the North European electorates are not prepared to accept this because they have been spun a one-sided tale.

    How we get out of this, God alone knows.

  19. “They have borrowed something in excess of €300bn”

    ‘They’ were politicians in collusion with Wall St banks who later went on to work for Wall St banks.

  20. “How we get out of this, God alone knows”

    The problem is inside the banks. This whole farce since 2008 has been about saving the banks at the expense of the wider economy.

    The impoverishment this causes is how world wars start.

  21. By the way, Krugman today points out that Milton Freidman and Irvine Fisher decades ago both pointed out why policies such as those that have been foisted on Greece are somewhere between counter-productive and imbecilic.

    http://krugman.blogs.nytimes.com/2015/07/07/milton-friedman-irving-fisher-and-greece/?_r=0

    THAT is how far we’ve gone. In today’s world, Friedman and Fisher would be considered bleeding heart pinkos who would be soft on the debtors.

  22. @Somerjohn – “So what should the troika do? ”

    Well, the troika definitely shouldn’t be proposing anti-business practices, yet that’s what they seem to be doing.

    Their proposal to the Greeks (the one rejected by the voters) was to raise tax on hotels to 23% even though Greece’s competitors had lower taxes, and raising taxes would make the industry uncompetitive as long as they stayed in the euro (with no chance of gaining competitiveness via devaluation).

    Syriza rejected this (proving perhaps that they do understand capitalism after all) with the support of their opposition, and proposed a tax on gambling instead, which the Troika rejected.

    What are we to make of this? A neutral person with no dog in the fight (a Brit or American), would agree with Syriza that heavily taxing your most profitable industry (tourism) is nuts.

    The only people who would think this was a good idea would be your competitors (Spain, Portugal, Italy) who are bent on using the crisis to ruin your tourism industry and take you out..

    There is something quite rotten in the state of the EU…

  23. @somerjohn 10:22pm

    Nonsense. If you lend someone a million pounds when they earn £15k a year you share half the responsibility for the difficulties. You deserve to lose a big chunk of your money. Eurogroup dont want to make write offs for a couple of reasons: they are scared for their political lives in their own countries; they will lose face at the disaster their baby the euro has been; and they are terrified that other countries like Spain etc will wake up and wonder why they are bailing out German etc banks when Greece is getting favours.

    Rich european creditors have not taken their fair share of the blame.

  24. A few small points.

    There is a lot of talk here about the EU but it has been remarkably uninvolved. Almost all the action is with the Eurozone countries.

    It is surely a mistake to counterpose the saving of the banks with the wider economy. A banking collapse would ruin the wider economy whether we like to admit it or not. This was indeed what happened in the 1930s and formed the backdrop to war.

    I don’t think we need bother with the concept of odious debt as the German government won’t have it but also the politicians who would shoulder any responsibility are now part of the Greek government’s entourage.

  25. Several errors, although most have been stated by various posters and then were ignored

    The banks got into trouble because they had to swallow the cost of the crisis that never was in 2001. They just followed their business model in their circumstances.

    The bailing out of Greece in 2010 was a byproduct of bailing out German and French banks.

    Syriza, while it is a leftish party, it is the shopkeepers’ party, so they do understand the market.

    Merkel is not isolated at all. But it is a hard game. The real prize is Spain, and it is a real concern in Brussels.

    The real issue is that unless you are an exporting country, the euro is not for you.

    We are talking about money that has never existed, but causes a lot of problems because of accounting conventions. While the bailout would probably create some inflation, the current turmoil creates even more, which is what the commission wants (while devaluation helps exports, it helps inflation even more).

    The EU has to sort out Greece because it will repeat itself elsewhere. It is not a question of fiscal or monetary policies, but fundamental economic issue. The ECB can pat itself on its back as many times as it wants, it won’t solve this problem.

  26. FFS, what’s more important? People or balance sheets?

  27. The banks weren’t fixed in 2008.

    Instead the various governments pretended they’d been fixed and put them on life support (ZIRP) while their vast amounts of toxic debts (assets valued higher than market value) were gradually transferred to the public (QE).

    Part of this process was bleeding dry the weaker periphery countries (Greece, Ireland, Portugal) to shore up the banks in the core (France, Germany).

    Despite what the media says not a single thing has been done for the benefit of Greece during this crisis. It’s been 100% about saving the (mainly) Franco-German banks (and whoever else would be hit by the domino effect).

  28. Its an an interesting view of things.

    Greece ran large deficits to finance enormous military expenditure, public sector jobs, pensions and other social benefits through a period of economic growth. Its State Statistics were almost always innaccurate. Tax evasion was widespread, and according to Transparency International’s Corruption Perception Index, Greece, was ranked as the most corrupt country in the EU.

    When Greece’s debt servicing costs became unsustainable , and its bonds were rated at Junk status , access to capital markets closed to it.

    It received a bailout from the Troika in order to meet its debts. Private creditors’ were forced to take losses up to 50% or so.

    ……..and this arrangement ( together with its successor arrangements) is described as not for the benefit of Greeks but for the banks.

    Its a topsy turvy world :-)

  29. Two legs good, four legs bad.

    Debtors good , creditors bad.

  30. @Barney

    Re: Drachma etc.

    That’s a bit more like it, though having done some researches myself, other downsides could be added if being thorough, notably the problem of the legality of contracts that had originally been conducted in Euros.

    Not sure you can just look at bond yields as a proxy for interest rates set by a central bank determining rates in loans to businesses etc.

  31. @Colin – “Debtors good , creditors bad.”

    I think your simplistic and wholly inaccurate comment doesn’t do you justice. (BTW – your ‘Euclid on the block’ was a screamer).

    I’m not aware that anyone here is saying Greece has done well in the years and decades leading up to this point or agreeing with the false binary choice between creditor and debtor.

    What many are saying is that where you have a country that has enacted most of what it’s creditors demanded for the last seveen years, which has led to the biggest ever economic depression in any country in modern times, yet seen the debt ratio balloon, it’s a fair assumption that the demands of the creditors were and remain unreasonable.

    In this, those of us who take this view are in agreement with the IMF, who have made it clear that they made a mistake in not forcing the ECB and EZ to accept the kind of repayment terms that Germany got in 1953, where repayments were linked to growth and were capped as a proportion of GDP, thus avoiding a debtor induced fiscal catastrophy, as we now have.

    This is nothing to do with ‘Debtors good , creditors bad’ – it’s merely suggesting to some rather dim creditors that if they want any of their money back, they need to accept a solution that shares the burden of past mistakes fairly, and enables the Greeks to do what they want to do – which is repay all remaining debts at full value over time.

  32. @Barney

    “It is surely a mistake to counterpose the saving of the banks with the wider economy. A banking collapse would ruin the wider economy whether we like to admit it or not. This was indeed what happened in the 1930s and formed the backdrop to war.”

    ———-

    I don’t think that is grounds for dismissing peeps’ concerns regarding the role of banking in all this and how action to save the banks has compounded the problem for Greece. Not least because no one has actually said that the banks should not have been saved.

    A couple of additional examples: transferring the banking debt to the public further assists the banks while creating EU taxpayer pressure on Greece. Also, peeps all over the place are saying now German banks for example have benefitted from money printing via QE to help them, but such a facility is not being extended to Greek banks, who keep having to extend the begging bowl for loan or liquidity extensions, letting the EU give them another kicking…

  33. @Colin

    “……..and this arrangement ( together with its successor arrangements) is described as not for the benefit of Greeks but for the banks.”

    ———-

    Yes, because the Greeks only got enough to stave off collapse (and thus save the banks exposed to Greek debt) but with conditions attached that kept them in the hole.

    Whereas the banks got a whole lot more…

  34. I’m genuinely baffled by this banks vs economy thing. I may be something of a simpleton in these affairs, but I’ve consistently had the feeling that the bank bailouts missed the fundamental connection between creditor and debtor as a key route to a better solution.

    It appears to me that the standard approach has been to bail out the banks by creating money to be pumped into the banking system, which needs in due course to be paid for by taxpayers.

    However, to my simple way of thinking, if the banks were short of cash, this is presumably because their assets – which are our debts – were no longer economically sound.

    Instead of creating cash to give direct to the banks, why didn’t governments and central banks give the same money via the banks debtors, paying off their bad debts?

    The bank still gets recapitalised, with free cash to make new loans, debtors see their debts reduced, freeing up spending in the wider economy and enabling them to save, spend or take new credit, and bad debts are eliminated from the system.

    I still haven’t some across any reasonable explanation why this simple apporach wouldn’t have worked.

    Debts are assets, but we seem to have created state owned debt to pay off private sector debts, without actually clearing those debts from the debtors, which is why the financiers have won the people lost.

  35. Miserable Old Git

    If you want an answer to the question, then like it or not the answer is usually “Balance sheets”.

  36. Alec

    Your second paragraph is not correct. The banks (on the whole) were illiquid not insolvent. They have been given money in exchange for security. They will repay the money not tax payers. Their shareholders have taken a big hit (correctly) in terms of loss of dividends and reduced value of the shares.

  37. Looking forward with hopeful anticipation to today’s budget. I have been a fan of Osborne over the last three years and if he gets it right I may even forgive Cameron’s social policies and become a Tory.

    Also looking forward to Sunday and finding out what happens about the Greek situation. Mosy likely is Grexit with severe pain for the Greeks and big losses for the Germans and the French. None of them will get my sympathy as I always thought the Euro without a Federal Europe was a nonsense.

  38. The truth is Germans see Greece as a de facto colony.

  39. Colin

    The problem seems to me that the Northern Europeans seem determined to see economics as a morality tale. One where the sensible economics (as set out by Friedman and Fisher) is ignored and instead Greece must be seen to be suffering for its sins. I can see no other explanation for insistence on the continuation of the austerity policies.

    And boy has Greece suffered. Not many people on here have experience of 25+% unemployment. I have. In the mid 1980s, 28% was the unemployment rate briefly touched in Mexborough in the Dearne Valley after the pits closed. It was the highest rate in the UK. I believe (although I may be wrong, I don’t have the numbers immediately to hand) that it was the highest rate in the UK since the 1940s. It was grim. Very grim. The hysteresis consequences endure, with a generation that has struggled because of the lack of opportunities available when they entered the job market.

    The whole of a Greece has had that level of unemployment for 30 months! At the rate of decline when Syriza took power, unemployment might have got down to 20% by the end of the decade. This is a country whose future is being wrung dry by the hysteresis effects of unemployment. If you want a country to suffer for its past mistakes, there is the example. Maybe we can put the morality issue to one side and start addressing the economics like grown-ups now, eh?

  40. ALEC

    I was parodying a view -but not one held by you.

    I think ECB is the centre of things now-without their continued support , Greek Banks are bust .

    Their exposure in 89 m euros!-If I were Draghi I would tell the politicians its their problem -not his. I would demand from them guarantee for all losses-or specific approval to incur them.

    At the moment the politicians aree hiding behind the ECB.

  41. @Jamie – I think my point still stands. If we wanted to get money into the banks to ease either insolvency or liquidity, then it could have been by the route of repaying bad debts, clearing both the debtors of their liabilities and the banks of bad assets, while still meeting the need to get the money flowing.

    But as I say – I’m a simpleton. There is obviusly a very good reason why we create money to make the very wealthy even wealtheir with asset inflation, while the poor continue to struggle.

  42. LEFTY

    @”The problem seems to me that the Northern Europeans seem determined to see economics as a morality tale”

    Well it is certainly noteable how few friends Tsipras has found-France & Italy basically.

    What has surprised me is the antipathy of the former Soviet colonies .Perhaps they feel that they have been through the fire to transition from Command Economies , and they don’t see why they should pay any more to help Greece .

    Is there a Protestant Work Ethic vs Mediterranean manana thing at work here too?

    But the human dimension looks awful from the news bulletins. The oligarchs are still cruising round in the yachts I have no doubt, whilst pensioners cry at ATMs.

    I’m getting really concerned at Tsipras’s lack of urgency-his Banks will not last long & he is testing ECB’s support to destruction.

    Mind you they are all hiding behind Draghi at present-he must be very stressed.

  43. ALEC

    The Greek Bank recapitalisations are described by Wiki as follows :-

    “The Hellenic Financial Stability Fund (HFSF) managed to complete a €48.2bn bank recapitalization in June 2013, of which the first €24.4bn were injected into the four biggest Greek banks. . However, in return for this, the Greek government at the same time received a number of shares in those banks being recapitalized, which it can now sell again during the upcoming years.”

    “In May 2014, a second round of bank recapitalization for all six commercial banks in Greece (Alpha, Eurobank, NBG, Piraeus, Attica and Panellinia),[40] worth €8.3bn, was concluded entirely finanzed by private shareholders, without HFSF needing to tap into any of their current €11.5bn reserve capital fund for future bank recapitalizations.”

    I son’t know what losses-or profits resulted / will result from these investments.

  44. Colin

    How can Tsipras expect friends in Italy? They have embraced the Euro-orthodox economic approach with catastrophic effects on growth. The last thing that the mainstream politicians in Italy want is an example of a different way forward.

    As for the Baltic States which have been among the most vociferous critics of Greece, they were the most enthusiastic embracers of Austerity in 2009/10. They suffered their own Depressions (15% loss of GDP, 20% unemployment). They have had a tepid bounce back but the costs currently far outweigh the benefits. How can their politicians who out their people through this accept that another way is possible?

    And then there is Finland, whose contribution to Europe these last 5 years is Olli Rehn…

    It’s politics ruling over economics. Maybe this is inevitable, but if so, at lead intelligent people can accept that as the baseline of any discussion.

  45. Leftylampton

    “How can their politicians who out their people through this accept that another way is possible?”

    Perhaps because another way isn’t possible. The UK has just elected a Government who clearly believe in cutting back the size of the state to encourage growth and employment. It can be argued that they have been successful at it so far.

  46. TOH

    Read that link from last night about the ideas of Milton Friedman and Irvine Fisher. Then think if another way is possible for Greece.

    Regarding the UK, just don’t get me started…

  47. Leftylampton

    The Greeks should not have been allowed to join the Euro, in fact as I say above the Euro itself is a nonsense without a Federal Euro.

    Although i admire much of what Friedman had to say on economics i don’t always agree with him.

    On the UK your right I should not have raised it with you as we totally disagree and there is no point in us discussing it here. I apologise for that, too much budget expectation is probably to blame.

1 5 6 7 8 9