Osborne admits the government is “desperate” and “all other policies have failed”

Spot the difference…

Today:

The Guardian: “The Bank of England will inject billions more of electronic cash into Britain’s flagging economy, extending its quantitative easing programme by £50bn.”

2009:

George Osborne: “quantitative easing – printing money by another name – is the last resort of desperate governments when all other policies have failed.”

 

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