Financial Times FT.com

Withdrawal symptoms

Published: November 24 2009 09:31 | Last updated: November 24 2009 23:07

More heroin or is it time for methadone – or even cold turkey? When it comes to ending stimulus packages, policymakers appear unsure. Politicians – and among them let us include Dominique Strauss-Kahn, managing director of the International Monetary Fund and former finance minister of France – want to keep the stimulus coming. “Exiting too early is costlier than exiting too late,” he said this week. This is a politician’s classic position: reluctant to make an irreversible decision that will have unforeseeable consequences, and thus kicking the ball down the field.

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