EBRD chief economist: Politicians avoid telling citizens the real cost of public debt
Beata Javorcik, chief economist of the European Bank for Reconstruction and Development, warns that the era of fast information makes it harder to have mature public debates about government finances. She stresses that public borrowing is not free, yet politicians are reluctant to explain this to voters. Javorcik argues that people increasingly operate with their own set of "facts," undermining rational economic discussion.
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