Topic: | Re:Re:Re:It's official: back in recession | |
Posted by: | Edward Przepiora | |
Date/Time: | 25/04/12 14:24:00 |
I disagree, the lagged effect will hit back in some way of the other, as UK dependant on Europe. Financial crisis in Italy \ Spain will push Euro down even further This means exports to Europe will not be at he same level anymore making exchange rate at more or less the same level (1.21 today) So both economies (UK and Euro) are sinking at the same time, I am afraid. All because of short sited fiscal policy in UK, and lack of concept how to handle UK deficit. Sacking public\ government workforce home is not enough I am afraid, you really have to make significant push to cure these things, but no one knows how to do it in UK |