Thatcher and Friedman would hate to say they told you so

July 9, 2015

From James Paterson

The best article you’ll read this week on the Greek crisis is by Ambrose Evans-Pritchard in The Telegraph on Tuesday. If you used to think the Euro was a good idea, this will fix it.

If only someone had warned them. Like Margaret Thatcher. Or Milton Friedman.

This speech, by UKIP leader Nigel Farage direct to Greek PM Alexis Tsipras in the EU parliament on Wednesday, deserves the 98,439 YouTube views it has generated in the 24 hours since it went live.

How did Greece get here? It probably didn’t help that public servants continued to be paid after being convicted of murder. This new book has many more examples of the systematic failure of the Greek state, even before the crisis. Read this review of The Full Catastrophe: Travels Among the New Greek Ruins in The New York Times last week.

Australia is not as far away from Greece’s predicament as we should be. A new report from the IPA’s Dr Mikayla Novak, released on Friday, shows the federal government misspent much of the $266 billion in new debt it racked up since the global financial crisis. Download the full report here, and read Mikayla’s article in The Canberra Times on Tuesday on why our debt levels are already unsustainable.

Former IPA guest Matt Ridley recorded this must-listen one-hour podcast on Monday last week on being a ‘lukewarmer’ on climate change. He’s talking to Russ Roberts from the Hoover Institution at Stanford University as part of the excellent EconTalk series.

Next time someone tells you that not charging GST on some online overseas purchases is to blame for the woes of the Australian retail industry, show them this chart from The Wall Street Journal on Tuesday.

The IPA is delighted to be hosting Social Services Minister Scott Morrison for a morning tea in Melbourne on Wednesday 22 July. For more details and to book, click here. On Monday 3 August the IPA is very pleased to be holding the Melbourne launch of Greg Sheridan’s new book, with special guest Michael Kroger – book here.

And you can still book for the IPA’s nation-wide Magna Carta tour in Rockhampton, Brisbane, Sydney, Hobart, Adelaide, Perth and Melbourne. Full details and bookings here.

Here’s what else the IPA said this week:

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