There was more fascinating stuff on tonight's PM - this time an interview from Göran Persson, the architect of Sweden's recovery plan from the early 1990s. Sweden, you might recall, was in fairly choppy waters - a bursting asset bubble, mass unemployment, a currency crisis and a chronic budget deficit that couldn't be shrugged away. So the new government had to take very decisive action, which meant tax rises and public sector cuts aplenty.

Today, Sweden's economy and social model are seen as a triumph by commentators from both left and right. So their recent history is worth studying.

The best bit is when Persson warns the UK about trying any funny business:

Don't try any tricks, any book-keeping tricks, because the market is watching you.

You can hear the full interview here (as it's a BBC link, it may die after 23 February, so be quick).

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Filed under: Financial management, Politics with tags deficit, goran persson, politicians, sweden