Sunday, November 6, 2011

Careless, careless governments

As you'll no doubt remember, the Irish government recently found an extra 3.6bn euro it didn't know it had. Bizarre, right? Well, it turns out there's a good bit of this about!

Last week, Germany found a little windfall in a nationalised mortgage bank; 55 billion. And the week before, the US government found 6.6bn dollars it thought it had lost in Iraq.

Perhaps the entire financial crisis was caused by national governments losing a billion here, a billion there, down the back of the couch.

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