[Re: Euro establishment isn’t learning any lessons from the crisis, yesterday]
Euro debt is out of favour, but Europe certainly isn’t. Who wouldn’t want a piece of Europe? If debt were converted to become asset backed – governments would have to surrender their assets in a default situation – then I see no sovereign debt issue. This mechanism would force the public to understand the importance of government spending restraint.
France may have escaped unscathed thus far, but how Francois Hollande can expect to maintain confidence while raising top rate taxes to 75 per cent is beyond me.
Facebook in the UK
[Re: There’ll be no UK Zuckerberg while we fear all failure, yesterday]
I can completely understand and agree with David Richards saying that the UK has no entrepreneurial attitude. But it’s all our own fault. We have lavished state welfare on many, and completely failed to engineer our education system towards the needs of the future.
Why should the UK want its own Mark Zuckerberg? It seems strange to decide, subjectively, that unprofitable internet social networking is the industry of the future and then worry retrospectively that we have none of our own.