Real reform

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real-reform
Real reform starts when government money stops.

Valdis Dombrovskis, Prime Minister of Latvia at Munich Economic summit, 30 April 2010

[Note: Latvia has abolished 30 percent of public sector jobs, and the wages of government employees who remain has been cut by 28 percent. A government deficit of 20 percent of GDP has been transformed into a surplus of 8 percent in just 2 years. Budget flights to Riga start at £14.99].

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Sovereign default: The spectre that’s haunting Europe