Or to put it another way, the proposed takeover of the Lloyds operation - which is called Verde - is forcing the Co-Op to re-evaluate its future in a fundamental way.

BBC: The threat to Co-op��s plan to be a bigger bank

This view about the sustainability of fiscal deficits is supported and re-enforced by op-ed pieces from academicians like Nobel Prize winner and New York Times columnist Paul Krugman, who see fiscal policy working in one direction only.

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President Reagan tapped him for a photo op during his re-election campaign swing through Boston (the Gipper took blue state Massachusetts that year).

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