Shared publicly  - 
Versus Austerity Debate Live at 19:00 (Debate starts around minute 30)
James Rothwell's profile photokostas papalexiou's profile photoIntelligence Squared's profile photoMohamed Shakir's profile photo
Please post your clear, short questions below - they can be forwarded to the debate.
Europe are not even imposing austerity - government spending is up and not down - all this talk of austerity is just for the creditors
In a normal economic cycle, it is expected that governments increase their spending to stimulate growth. These are, however, exceptional circumstances - the burden of interest payments alone is in some countries greater than defence and education budgets. Increasing the debt will increase this burden, further decreasing their ability to spend on stimulating further growth.
Very interesting model for involving the public in the debate.
I can't see how to contribute to the debate though?.. is this where I type questions for the panel?
the euro is crashing and bringing the united kingdom down with it. My point is why are you talking about trying to save a dying currency?
Is the Euro a bad idea or was the implementation poorly executed ?
Sir George Papaconstantinou Believe that austerity measures in GREECE can have positive effects on the economy both in GREECE and in chrimatopistotiki stability of the euro
what i don't understand is why people don't grasp the fact that you can't get something out of nothing. It's in all other cultures: the Chinese have the proverb of Ying and Yang. Alchemists have Equivilant exchange. Newton's third law "Every action has an equivilant and opposit reaction". I can't think of any other examples but my point remains the same. To get a good thing, you need a bad thing first.
Is there an agreed rate of austerity? Humans are averse to loss, if the rate of change is too fast will democratic societies reject austerity and vote in those who offer alternative visions?
The less capacity to pay, the higher the interest rate. This drives small countries into the ground while richer countries borrow at better rates. I know its preferential, however such demands are turning countries into debt slaves.
+Mathew Lynn Yes German businesses benefit from being in the Euro. This enables them to employ the 'average German citizen'. There is 50% youth unemployment in Spain and you are telling us that they are benefiting or will benefit the most? You are totally wrong.
if austerity is not the answer then its clear that monetary expansion is - doesn't this carry its own risks. The simple answer is that Europe has over-spent. We have impoverished ourselves by utilising cheap labour overseas, this has held our inflation at bay. Despite the academic Keynesian approach - don't we just have to pay the piper in the end, one way or another?
I have lived through the US recession, the UK recession and now I see my family and friends in Spain, Greece and France going through the recession there. The Rich Greeks want it to happen so that they can buy up all the property that will devalue, they have already taken their money out, interestingly alot of Greeks have been buying property in Mayfair.
@George- could the contagion risk be lessened by ending the Euro entirely?
They try to terrorize us here in Greece:"If you leave Euro y'all die from hunger"But it's already happening these two years!
living standards are going to decline no matter what you do, it is a forgone conclusion
that Spain's economy began to falter articles from the foundations. fact that one greater than the dealer's bank needs 18 billion euros to recapitalize it. Spain faithfully followed the austerity program imposed on it. the results of this program are not reliable and the fact that GREECE followed the same program
We don't want the Euro to collapse - it would be awful for the British economy!
Would a resource based economy not be a better direction to head to?

Perhaps starting with an incremental salary cap to beat unemployment and make us more equal and financially stabilize society to start with?
3000 Greeks so far have killed themselves 2 nominated today because of 'gentlemen' actions such as mr Papakonstantinou.Could you say something about it?
The comparison with Ireland is interesting. However, its growth was also built on "fiscal dumping", with a very low fiscal rate on companies, wasn't it ?
Is it fair to allow Northern countries banks to have an immediate access to depositing clients of South without on the same time be willing to lend the retail market of the South? Isn't it a total failure of the regulators this one way valve eurozone "integrated" banking system?
I would ask. The austerity measures which we see every day that is inefficient both in our country and in Europe. what they propose economic analites to relieve the member economies in order to provide a relief armies Joined citizens who are in despair;
Ireland's corporate tax rate was in place for many years before the economy came off the rails. However, if low corporate taxes were the issue then other countries such as France (effective rate 8%) should be in an equally difficult spot.
I discussed this post with 1 person in a hangout.
thanks for the mention!Loved the show!And thanks to Google for the invitation!
A very good debate all-round, I think, though would have been good to see a little more audience participation in the video itself. Generally good banter in the comments!
I discussed this post with 1 person in a hangout.
Also, just a question, did they get the results wrong on the video or are the pie charts wrong? The 4% was given as 'against' on the video, but the pie charts said that was the percentage of 'unknowns'!
I must say I enjoyed the first debate more, perhaps because it was more event like with an actual audience instead of just being in the studio. Or it could have been the debate topic. With that being said, love the closing "what nonsense", and can't wait for the next debate.
Add a comment...