Debate is still raging in Northern economic policy circles on the best way out of the downturn. Meanwhile, Greece has hit the headlines in recent weeks over doubts about its long-term ability to service its national debt without outside assistance from the other euro-wielding members of the Eurozone, or the European Union.
Everyone is worried that if Greece is let off the hook the other PIGS (Portugal, Italy, Ireland, Greece and Spain) will have less incentive to take hard, and unpopular, measures to balance their books.
The majority seem to be looking forward to the day when economic growth returns and the situation returns to ‘normal’, but is a return to growth in the North a good thing? What are the long-term effects of such growth on the ecosystems upon which development and wellbeing depend? Should we be trying to make everything the way it was before, or is it time to challenge our assumptions that growth is always good?