Co-op rescue plan
[Re: The Co-op rescue: There was always a better way to deal with bank failure, yesterday]
Well said. It was clear, ever since trouble started at Northern Rock, that all we needed to do was look at these banks’ balance sheets (rather than get hysterical) and the bail-in solution jumped off the page.
Andrew Lilico is interesting on bail-ins, but his thoughts on why we could do without RBS are great. The problem is that many still fear how we would all react to the orderly failure of a big bank.
Public sector cuts
[Re: Why cutting public sector jobs doesn’t cause unemployment to skyrocket, yesterday]
It is welcome news that private sector employment grew by 708,000 between March 2012 and 2013, comfortably offsetting the drop in public sector employment. It is one of many reasons why we should support plans to cut public sector jobs by 1.2m between 2010 and 2018. Recent ONS figures show that the UK public sector still employs 5.7m people. And British households now face an annual bill of £1,600 for public sector pensions. Only real jobs will restore Britain to good health: further cuts should be welcomed.
BEST OF TWITTER
No relief for UK households as rising prices have hit spending power. CPI 2.7 per cent in May; 2.4 in April.
What could be better than an EU-US trade agreement? Free trade.
Only UN is trusted by a majority of the British public to investigate use of chemical weapons in Syria.
All’s quiet on the Eastern Front. Ben Bernanke must keep it so. Buy five year treasuries.