Malta’s Debt – The Ostrich Approach to Economics
Right, let’s address the genius argument I keep hearing: “You’ve been telling us about this doom and gloom since March 2013. But it never materialised!!!!!” Yes, well done. You’ve spotted that the sky hasn’t fallen yet That’s not proof of economic brilliance, that’s proof you’ve got the observational skills of a goldfish. Debt isn’t a thunderstorm. It doesn’t arrive with a crash of lightning and a loud bang over Castille. It creeps. It lingers. It builds up quietly in the background, like cholesterol in your arteries, until one day, bang, heart attack. And you’ll be sat there, wide-eyed, saying, “But I thought pastizzi were fine, I’ve been eating them since 2013, and I’m still standing.” What we’ve got here is the economic version of that. Successive governments dishing out freebies, cheques, handouts, subsidies, anything to buy a smile, a vote, or at the very least a Facebook “like”. And where does the money come from? Not from a magical tree sprouting €50 notes in Castille’s ...