But they don’t hold it against the US or European countries, even with inflation but to under developed countries any amount of deficit spending is a deadly sin which gravely damages their risk indices
They applied the same things to the European PIICGS that went under (Portugal, Italy, Ireland, Cyprus, Greece, Spain), in coordination with the European Central Bank.
They don’t care as long as it’s not the US, the UK, and to some extend France, Switzerland and Germany. Maybe the Scandinavians would get away with it too. Everyone else is fair game.
But they don’t hold it against the US or European countries, even with inflation but to under developed countries any amount of deficit spending is a deadly sin which gravely damages their risk indices
They applied the same things to the European PIICGS that went under (Portugal, Italy, Ireland, Cyprus, Greece, Spain), in coordination with the European Central Bank.
They don’t care as long as it’s not the US, the UK, and to some extend France, Switzerland and Germany. Maybe the Scandinavians would get away with it too. Everyone else is fair game.
Exactly the more in center of capitalism the more okay it is deficit spending.