A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.
One of my very greatest fears as a child was being ridiculed in public. And there it was coming true. As a television presenter, I'd been respected. People come up to you in the street and shake your hand and talk to you in a respectful way.

