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‘What on earth was Darling talking about?’ – media ask


darling.jpgThe media is still confused about the motives behind the Chancellor’s observation that “(the times we’re facing) are arguably the worst they’ve been in 60 years”.

What about the 27 percent inflation and 12 percent unemployment rates the country endured during the 1970s and 1980s, they ask?

The country has not been forced to go to the IMF, cap in hand, as it did in 1976, nor is it 1992 and another Black Wednesday, leader writers point out in Monday’s newspapers.

The problem seemed to be compounded when Alistair Darling was then forced to explain in a series of TV interviews that he was talking about severity of current economic conditions — the global credit crunch and rising commodities prices — rather than predicting a great depression.