Austerity has an encouraging family responsibility and belt-tightening feel to it. An analogy that is entirely misguided when it comes to national finances. Watch the PIIGS chase their austerity tail into a depression.
Published by David Kirk
The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation. View more posts