Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Safety of Post Office/Bank of Ireland savings | |
Posted by: | Guy Lambert | |
Date/Time: | 18/11/10 21:42:00 |
Interesting comment from Capital Economics, reported today. They said the danger came not from a downturn in trade with Ireland, or from deteriorating bank loans from RBS and Lloyds, or even from the contagion of default. The real danger comes from mimicking Irish austerity measures that have triggered a collapse in tax revenues, a worsening property market and soaring unemployment. "The planned fiscal tightening in the UK is not dissimilar to that already embarked upon in Ireland, In short, whatever the effects of the Irish crisis, the greatest risks to the UK economy come from its own fiscal consolidation." |