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14 May 2012updated 26 Sep 2015 7:01pm

Opinionomics | 14 May 2012

Must-read comment and analysis, featuring pasty-tax funded investment and much Eurocrisis.

By Alex Hern

1. As European Austerity Ends, So Could the Euro (Bloomberg View)

The euro currency is a malady that condemns at least a generation of Greeks, Italians, Spaniards, Portuguese and Irish to the economic infirmary, writes Peter Boone and Simon Johnson

2. The pasty tax could pay for a £30 billion infrastructure programme: four charts show why history will judge us harshly (Not the Treasury View)

Jonathan Portes writes that a £30bn infrastructure programme would cost just £150m a year, thanks to historically low gilt yields: that is the revenue raised by the pasty tax.

3. What history tells us about a potential Greek exit (Pragmatic Capitalism)

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David Schawel asks what an exit from the euro would look like, and how it would be accomplished.

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4. The recession deniers have gone strangely quiet this month (The Independent)

We are in the slowest recovery for a century, with no end in sight, writes David Blanchflower

5. World edges closer to deflationary slump as money contracts in China (Telegraph)

Ambrose Evans-Pritchard argues that more and more signifiers point to depression hitting not just the developed world but the BRICS as well – and China could be the first to go.