Although Liz Truss's disastrous stint as UK prime minister in 2022 should have warned others of the dangers of fiscal activism, radical parties in France seem to have learned nothing. The stage may be set for another collision between a reckless government and financial markets, with central bankers caught in the middle.
PRINCETON – “Trussing” is an old English verb with various connotations. It can mean putting in beams to support a building or bridge, or tying up a turkey before it is roasted. But since Liz Truss’s brief, disastrous tenure as prime minister of the United Kingdom in the fall of 2022, it has also come to refer to a fiscally strained government making wildly unrealistic promises that will end in tears. No longer is trussing always stabilizing; sometimes, it means the opposite.
PRINCETON – “Trussing” is an old English verb with various connotations. It can mean putting in beams to support a building or bridge, or tying up a turkey before it is roasted. But since Liz Truss’s brief, disastrous tenure as prime minister of the United Kingdom in the fall of 2022, it has also come to refer to a fiscally strained government making wildly unrealistic promises that will end in tears. No longer is trussing always stabilizing; sometimes, it means the opposite.