They must know it. No amount of playing around with the sums can make even the interest payments on these loans affordable. If they wait to the bitter end, it will be bitter - no more pension fund, reserves etc. The choice natural resources, public utilities etc will have been picked off.In their heart of hearts they must know it but they seem determined to be good little Europeans right to the bitter end.
CS puts it very well. Will Labour go this far?
My BlogOur fate is in the hands of people who can buy us time to assess our options. It is in the hands of opposition parties and individuals who have the courage to stop the steamroller in front of us. Do we reject the budget? At a time when the country is crying out for leadership, there may be political advantage in representing a view that seeks to retain some control over our future, instead of obliging us to submit weekly reports to our new governors.
Some commentators will say that to reject the budget would be sabotage. To accept it is suicide.