Union Bancaire Privée: “let’s go for austerity but beware of inflation”
According to Patrice Gautry, UBP’s chief economist, we are now at the end of a cycle. The West’s growth rate has kept one step ahead of the spiral of debt that was fuelling it, but now we have reached the end of that road: household and national debt needs to be reduced. “As testified by the frantic talks among leaders, the mounting political and economic threats unequivocally call for higher…