Bored with economic ills? Let's use the Samoan solution

Simply scrap 2012 and move to 2013 where things can only get better.

As both Labour and the Tories squabble over the way ahead for Britain in 2012, neither seems to have considered the Samoan solution. This is a once in a lifetime panacea for all economic ills, available, like those sale bargains, for one day only.

Because it straddles the International Date Line, Samoa has the option of looking either east or west for its time. Concerned that it was out of kilter with its main market, Australia, the tiny Pacific island has come up with a unique solution.

To align its time with its main trading partners, Samoa, along with neighbouring Tokelau, has scrapped today -- December 30. When the citizens of Samoa went to bed yesterday it was Thursday, and when they woke up it was Saturday. Geordie drinkers of Newcastle Brown Ale will know the feeling, but this time there is no headache or embarrassing memories (unless of course you are a Geordie in Samoa). But we digress.

The Samoan solution, once applied to world economics, releases us from the pro- and anti-Keynsian debate of now into a new world of simple solutions to present problems.

Ed Miliband and his alter Ed --- the other one -- are ending this year as they began it: in the doo-doo. It is said that apart from leading the nation into a chorus of "Always Look On The Brightside", they have nothing to offer.

But if they seize the Samoan solution, then they have. Simply scrap 2012 and move to 2013 where things can only get better.

Some might argue this is a nonsense approach to economics -- but then, have you read the alternatives?

 

Peter McHugh is the former Director of Programmes at GMTV and Chief Executive Officer of Quiddity Productions.

 

Peter McHugh is the former Director of Programmes at GMTV and Chief Executive Officer of Quiddity Productions

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Italian PM Matteo Renzi resigns after referendum No vote

Europe's right-wing populists cheered the result. 

Italy's centrist Prime Minister Matteo Renzi was forced to resign late on Sunday after he lost a referendum on constitutional change.

With most ballots counted, 60 per cent of Italians voted No to change, according to the BBC. The turn out was nearly 70 per cent. 

Voters were asked whether they backed a reform to Italy's complex political system, but right-wing populists have interpreted the referendum as a wider poll on the direction of the country.

Before the result, former Ukip leader Nigel Farage tweeted: "Hope the exit polls in Italy are right. This vote looks to me to be more about the Euro than constitutional change."

The leader of France's far-right Front National, Marine Le Pen, tweeted "bravo" to her Eurosceptic "friend" Matteo Salvini, a politician who campaigned for the No vote. She described the referendum result as a "thirst for liberty". 

In his resignation speech, Renzi told reporters he took responsibility for the outcome and added "good luck to us all". 

Since gaining office in 2014, Renzi has been a reformist politician. He introduced same-sex civil unions, made employment laws more flexible and abolished small taxes, and was known by some as "Europe's last Blairite".

However, his proposed constitutional reforms divided opinion even among liberals, because of the way they removed certain checks and balances and handed increased power to the government.

 

Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.