“It’s not imminent. But you can see this happening.” So sayeth Vince Cable
about the prospect of another global financial crisis, in interview with the New Statesman today. To be
fair, you can see his point: there is a pervasive sense that the contradictions of the banking sector still haven’t been fixed, and — as I have written recently — our economy, and economies worldwide, are still afflicted by debt of all varieties. But that’s not
going to calm those Tories who regard Cable as a combustive liability. In the weeks since the Lib Dems’ annihilation at the polls, the Business Secretary has increasingly reverted to his
pre-coalition form: a professional commentator on the state of the economy. Few other ministers — if any — would be willing, or able, to play pundit quite so freely as the Business
Secretary does.
There’s more elsewhere in the interview.
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