Soleron on 16 October 2012
Mr Khan said:
It would pose more problems if jubilee was run on a domestic level, because it would essentially kill all long-term investments since it would discourage reckless lending and provide no guarantee of return in anything but the short term. |
Yeah, absolutely it would have to be national debt.
And this debt is mostly owed to i) banks, whose finances are terrible anyway, ii) other countries, not a problem, and iii) pension schemes, which can be saved by a specific government guarantee or something. All in all the effect of the debt will still exist but in a more manageable form than an immovable lead weight.
