Michael Jackson : We are hoping to avoid bailouts like those of Dublin , Ireland . The Organization for Economic Cooperation and Development predicted a slowing down of economic recovery through 2011 , with more turbulence ahead if `` global imbalances '' and high levels of sovereign debt are not brought under control . He says there 's a rush to embrace economic measures that inflict pain on the poor . He says we need to adopt frugal policies , spending less but investing more . Government must lead ; this is not a time to dismantle the state , he says .
Michael Jackson : We are hoping to avoid bailouts like those of Dublin , Ireland . He says there 's a rush to embrace economic measures that inflict pain on the poor . He says we need to adopt frugal policies , spending less but investing more . Government must lead ; this is not a time to dismantle the state , he says .