Thursday, December 12, 2013

Over-eager editor

Good New York Times article on Ireland's bailout exit --

The austerity was squeezing most people Mr. [John] Donovan knew. “The government, in a moment of madness, has burdened every man, woman and child with a debt we may never escape,” he said. “We are on our backside.”

Unfortunately the background explanation for his remark appears to have been cut, so to be clear, he's referring specifically to the September 2008 no-bondholder-left-behind bank guarantee, rather than some specific decision on austerity.