Chasing the Rabbit Down the Hole

The EU explicitly acknowledge that our budgetary strategy is like chasing the rabbit down the hole. They are going to give us an additional year to get our public finances in order. We will now have until 2014 to bring our public finance under control.

It isn’t a ringing endorsment for our budgetary strategy that this extension is unsolicited and the plan to get things under control by 2013 is already €2.75bn behind target only six months after the April budget. Fix that Brian.