Debt Sustainability

Gregory: We really don't care about your fiscal policy provided your debt is sustainable. By sustainable debt, they mean that the debt to GDP ratio needs to be on declining and continuously declining paths for a number of years. However, what exactly declining means because they have a sarcastic concept is unclear. Gregory: This year we are then coming to effectively the weaknesses or at least the incompleteness of this proposal which we can talk about as soon as you give us the green light to move to that topic.