Opinionomics | 23 May 2012

Must-read comment and analysis. OMG, WTF IMF?

1. Monetary and fiscal stimulus are not the same thing (ToUChstone)

"The IMF is advocating a monetary stimulus first, followed by (if that doesn’t do the trick) a fiscal stimulus", writes Duncan Weldon. "At least it has implicitly recognised that monetary and fiscal stimulus are not the same thing."

2. The IMF's economic statement: reading between the lines (Market Square)

The IMF argues for fiscal action now… but Lagarde pulls her punches, argues Ian Mulheirn

3. You say princelings, I say elite corps of investment bankers (Reuters)

Ben Walsh compares and contrasts China's elite with America's.

4. British energy policy is a dark underworld of fanatics (Guardian)

The government's decision to direct resources to nuclear and wind is typical of an institution befuddled and beset by lobbyists, writes Simon Jenkins

5. Has Krugman been reading a different report on the UK economy? (Telegraph)

Jeremy Warner doesn't agree that the IMF was critical of the Government's plan at all.

Wind farms in Greece. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Could Jeremy Corbyn still be excluded from the leadership race? The High Court will rule today

Labour donor Michael Foster has applied for a judgement. 

If you thought Labour's National Executive Committee's decision to let Jeremy Corbyn automatically run again for leader was the end of it, think again. 

Today, the High Court will decide whether the NEC made the right judgement - or if Corbyn should have been forced to seek nominations from 51 MPs, which would effectively block him from the ballot.

The legal challenge is brought by Michael Foster, a Labour donor and former parliamentary candidate. Corbyn is listed as one of the defendants.

Before the NEC decision, both Corbyn's team and the rebel MPs sought legal advice.

Foster has maintained he is simply seeking the views of experts. 

Nevertheless, he has clashed with Corbyn before. He heckled the Labour leader, whose party has been racked with anti-Semitism scandals, at a Labour Friends of Israel event in September 2015, where he demanded: "Say the word Israel."

But should the judge decide in favour of Foster, would the Labour leadership challenge really be over?

Dr Peter Catterall, a reader in history at Westminster University and a specialist in opposition studies, doesn't think so. He said: "The Labour party is a private institution, so unless they are actually breaking the law, it seems to me it is about how you interpret the rules of the party."

Corbyn's bid to be personally mentioned on the ballot paper was a smart move, he said, and the High Court's decision is unlikely to heal wounds.

 "You have to ask yourself, what is the point of doing this? What does success look like?" he said. "Will it simply reinforce the idea that Mr Corbyn is being made a martyr by people who are out to get him?"