And Mr Osborne's long-standing refusal to promise an overall cut in taxes looks vindicated, in the face of a burgeoning fiscal deficit.

ECONOMIST: The Conservative Party

But Suzlon's results for the year that ended in March vindicated some of the optimistic forecasts made for the business.

ECONOMIST: Face value

In January Mr Greenspan declared himself fully vindicated in his decision not to prick the stockmarket bubble in the late 1990s, but instead to wait for it to burst and then cut rates sharply to cushion the consequences.

ECONOMIST: The American economy