John Humphrys promotes government cuts

BBC 4 (The Today Show) - 8 April 2011
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John Humphrys has repeated the government line that cuts are necessary, suggesting that spending must be cut 'savagely' in Ireland, Greece and Portugal. Listen to the clip for the full qoute.

The assumptions behind this are:
- these countries were profligate and have spent beyond their means
- they are asking to be rescued by more responsible countries
- they have to cut their spending, because that's the root of the problem

All this is a highly partisan view. Others would say that

- the problem is caused by appallingly bad banking practices
- the banks losses have been socialised, to protect the bondholders
- the beneficiaries of eg the Irish bailout are largely German, French and UK banks
- the people paying the price through cuts didn't cause this crisis
- the problem is now being made worse by speculators driving up interest rates
- it is not "obvious", as Humphrys claims, that spending should be cut. This would depress demand and prolong recession.

Listen to the audio clip from 8 April 2011:

View all audio entries

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