These rules must allow for a gradual reduction in indebtedness.

The lending allows the necessary medium and long term spending cuts and tax increases to be undertaken at a more appropriate time.

The morally defensible answer is clear, and it has nothing to do with immediate reductions in CO2 emissions.

In the face of clamor from the right to cut even more savagely, statesmen who are too timid to increase public spending would be wise to ignore their advice.

Furthermore, bonuses should not be paid immediately, but rather placed in a company account for several years and adjusted downward if the company subsequently learns that the reason for awarding a bonus no longer holds up.