FT - Lenihan Europe's worst finance minister

Kev_ps3

Brian Lenihan has been named as Europe's worst finance minister in a survey of economists by the Financial Times. He was ranked 19th in the survey for the second year in a row.

Germany's Wolfgang Schaeuble was named as Europe's top finance minister in the survey.

Poland's Jacek Rostowski came in second ahead of last year's winner, France's Christine Lagarde, in the survey of the finance ministers of the European Union's 19 biggest economies.

Britain's George Osborne was sixth. Goerge Papaconstantinou of Greece came eighth.

Among other EU members that markets see as having shaky finances, Elena Salgado of Spain shared 17th place with Hungary's Gyorgy Matolcsy, one place ahead of Teixeira dos Santos of Portugal.

The FT's 'jury' of economists ranked the finance ministers on the basis of their political skills - for which Papaconstantinou got top marks - as well as economic performance and credibility in the markets.

Schaeuble scored well thanks to an expansionary fiscal policy as Germany suffered its worst postwar recession last year and his exit strategy this year as Europe's biggest economy has recovered strongly, the FT said.

'The strength of Germany's rebound was one of the big surprises of 2010,' the newspaper said.

Schaeuble, 68, was in large part responsible, while also crafting 'an exit strategy to bring public finances closer to balance,' it added.

Brian Lenihan was 'overwhelmed by the crisis in Ireland's banking system and the implosion of the country's economic growth,' the FT said.

Not really surprising:rolleyes:
FF out!!

dan_d

George Osborne is barely in the door....how is he even in the list???

Sleepy

What was practically the first thing the Conservatives did after taking power?

Announce huge cuts to PS numbers.

That's how Osborne features.

RobbieTheRobber

Sleepy wrote: »

What was practically the first thing the Conservatives did after taking power?

Announce huge cuts to PS numbers.

That's how Osborne features.

Sleepy do you know how most of the cuts in the british ps will be affected?

Riskymove

RobbieTheRobber wrote: »

Sleepy do you know how most of the cuts in the british ps will be affected?

+1

Uk are doing the same as us, except without a pay cut, and yet are held up as the way forward for us

gollem_1975

RobbieTheRobber wrote: »

Sleepy do you know how most of the cuts in the british ps will be affected?

He might but I don't.. how are they doing it ?

gurramok

Riskymove wrote: »

Uk are doing the same as us, except without a pay cut, and yet are held up as the way forward for us

How? Isn't the UK implementing compulsory public sector cuts unlike here?

RobbieTheRobber

gollem_1975 wrote: »

He might but I don't.. how are they doing it ?

Its through natural wastage, no pay cuts and natural wastage.

So similiar to irish plan only minus the pay cuts.

Riskymove

gurramok wrote: »

How? Isn't the UK implementing compulsory public sector cuts unlike here?

nope

the furthest they have gone is to say there may have to be a small amount of compulsary at some stage

the vast majority are through natural wastage

gollem_1975

I wonder how our "economists" fare in the European league of economists..
not very highly either I'd bet.

in terms of salary they probably top it mind you

later12

dan_d wrote: »

George Osborne is barely in the door....how is he even in the list???

FT is a British paper and it's fair to say that the party largely supports the current Conservative Party's economic policies... plus in fairness Osborne has done well in negotiating a fiscal austerity plan and is showing measured initiative in his new role.

Anyway he's quite in the middle of the pack so it's hardly that remarkable... he also gets there by not having done anything totally stupid like Lenihan, Salgado (Spain) or Hungary's man Matolcsy.
The latter is probably the kind of finance minister we would have if Joe Higgins was given the job, and even he comes out ahead of Brian Lenihan.

sarumite

Riskymove wrote: »

nope

the furthest they have gone is to say there may have to be a small amount of compulsary at some stage

the vast majority are through natural wastage

I have friends in the MOD and they are currently going through an evaluation. They have been told that there will be job cuts and pay cuts, not may.

I remember my time working for the HPA and we went through the Agenda for Change process. This was an NHS initiative, similar to benchmarking where some people we made redundant and other had their pay cut. This was not something announced by the then Chancellor Gordon Brown, but an internal NHS process.

rumour

RobbieTheRobber wrote: »

Its through natural wastage, no pay cuts and natural wastage.

So similiar to irish plan only minus the pay cuts.

So 300,000 jobs in the English PS are going through naural wastage??? Don't think so, methinks you are being disingenious.

They are avoiding wage cuts because they have devalued sterling consistently for three years, a tool not available to us. Oh and thats right they don't have the IMF and EU calling the shots now:rolleyes:

rumour

dan_d wrote: »

George Osborne is barely in the door....how is he even in the list???

:D Soon to be nominated for a nobel prize (in economics)...sound familiar?

jimmycrackcorm

So the FT has ranked Finance ministers based on their economies performances - there's a surprise. When Spain comes under 'Bonds' attack then I'm sure BL will be moving up one or two places.

X-factor for Finance ministers - who'd have thought it?

Riskymove

sarumite wrote: »

I have friends in the MOD and they are currently going through an evaluation. They have been told that there will be job cuts and pay cuts, not may.

the announcement of the cuts indicated most through natural wastage

our Government is 'cutting' the number if ps jobs too but not through compulsary redundancy..the devil will be in the detail

So 300,000 jobs in the English PS are going through naural wastage??? Don't think so, methinks you are being disingenious.

see above

there are over 6 million public servants in the UK

300,000 posts is 5% of the total and could easily be eliminated over a couple of years through natural wastage