The Guardian: "A more radical approach to debt: do nothing"

"IMF economists explore radical approach for states with large public debts – if the cure is worse than the disease, why not just live with the debt?"

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"One of the most obvious legacies of the global financial crisis is the sharp increase in public debt. Countries scrambling to avert the collapse of their economies or banking systems built up stocks of debt at a pace previously unseen during peacetime.

"Attention has more recently turned to how quickly that debt should be paid down. In the UK, Chancellor George Osborne has made cutting the national debt as a share of GDP a key pledge.

"But now economists at the International Monetary Fund have explored the potential merits of a more radical approach to all this debt: doing nothing at all. In other words, 'just live with it', they propose."