Is Austerity the Road to Ruin? James Montier July 2010

нашел неожиданно (сам документ тут). вдумайтесь, лето 2010 года!
без паники и истерики, просто и по делу.

(Сколько в итоге заповедей было воплощено в жизнь? Одна-две?)

Ten Commandments for fiscal adjustment in developed economies:

Commandment I: You shall have a credible medium- term fiscal plan with a visible anchor (in terms of either an average pace of adjustment, or of a fiscal target to be achieved within four to five years).

Commandment II: You shall not front-load your fiscal adjustment, unless financing needs require it.

Commandment III: You shall target a long-term decline in the public debt-to-GDP ratio, not just its stabilization at post-crisis levels.

Commandment IV: You shall focus on fiscal consolidation tools that are conducive to strong potential growth.

Commandment V: You shall pass early pension and health care reforms as current trends are unsustainable.

Commandment VI: You shall be fair. To be sustainable over time, the fiscal adjustment should be equitable.

Commandment VII: You shall implement wide reforms to boost potential growth.

Commandment VIII: You shall strengthen your fiscal institutions.

Commandment IX: You shall properly coordinate monetary and fiscal policy.

Commandment X: You shall coordinate your policies with other countries

  CLP: Trade the momentum (27.01.11)
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