Economic woes

PRIME Minister David Cameron said in a recent newspaper article that we shouldn´t talk down the world economy. He is right, it just makes the problem worse, but politicians have been doing just that for the last two years. Cameron blames most of Britain´s economic woes on the previous administration of Gordon Brown while the Balearic government has said that all the islands´ economic pronlems are the fault of the previous coalition government. The Balearic government even said yesterday that unless dramatic action was taken there was a danger that the Balearics would be in a similar economic condition as Greece. Now, that is talking down the economy.

All new governments appear to blame the previous administration for over-spending. But at the end of the day this doesn´t really achieve much because it is just another case of party politics. Previous governments have not admitted that they have over-spent despite allegations by new governments. So really we are going nowhere. What we need is a clear economic plan which gets us out of this financial mess and perhaps the blame game can be left for another time. After three years of deep recession the time has come for action. There is now a real danger of Britain and the euro-zone re-entering recession. This is a nightmare scenario. Government must do everything in their power to avoid yet another recession because the consequences could be enormous.