As early as 2017, the mayor’s advisor in charge of the budget alerted Anne Hidalgo to her mismanagement and the disaster that was looming. Unheedful of the warnings then, Anne Hidalgo continues today to bankrupt Paris.
To cut the Gordian Knot constraining the Swedish economy, I suggest repealing the long-standing ‘fiscal framework’ that currently dictates how the Swedish Parliament conducts fiscal policy.
The debt relief comes as Ukraine is facing $1.2 billion of debt payments due at the beginning of September, and a serious shortfall in cash flow—due to the Russian invasion that began at the end of February.
For the EU as a whole, total government debt declined from the fourth quarter of last year to the first quarter of 2022. Three countries with large deficits saw significant improvements, and twelve experienced a reduction in their deficits.
The default has been reported as “mostly symbolic” of “the worst economic contraction” in Russia in many years; Russian President Vladimir Putin has a different account of the Russian economy.
