100 days: invisible and unthanked, possibly
The coalition’s greatest achievement in its first 100 days may be invisible and unthanked. Although we will never know for sure, it is perfectly possible that they rescued the nation form a Greek style sovereign debt crisis.
Had that happened – and there are plenty in the Bank of England who think it might have – it would have meant more bank failures, a run on sterling, soaring interest rates and general chaos. It might never have of course, but if someone said you had a 1 per cent chance of facing financial misery, you too might be tempted to do something to avert it.
We will suffer form the cuts, but maybe not quite as baldy as might have suffered from a second financial crisis and credit crunch.
(Photo: Getty Images)Tagged in: coalition, debt, economy, recession
Latest from Independent journalists on Twitter