The IMF and austerity – John Redwood MP

One of a number of posters created by the Economic Cooperation Administration to promote the Marshall Plan in Europe (Photo credit: Wikipedia)

International Monetary Fund (Photo credit: Wikipedia)

International Monetary Fund [oct 25] (Photo credit: JavierPsilocybin)

This is a very interesting and timely blog from John Redwood, Conservative MP. It’s well worth a read. Check it out!

The IMF and austerity.

I agree with much of John Redwood’s article. I particularly agree with the following statement about the Euro:

“If it were a proper single currency, there would be much larger transfers of grant and loan money from the richer areas to the poorer areas, to make it all more tolerable.”

For me, Germany and the other North European countries that have benefited from the Euro since inception, now have a responsibility to invest in the economic recovery of Southern Europe – a Marshall type plan.