Tuesday, Jun 30, 2009
My Euros savings account is looking more attractive by the day
Bloomberg: Sterling Crisis Looms as U.K. Unraveling Points to Budget Cuts
"The price of credit-default swaps on U.K. sovereign debt has surged as investors try to protect against a deterioration in creditworthiness"
"The current crisis has stirred memories of 1976, when sterling collapsed and the U.K. had to borrow from the IMF"
Lawson, who expects Cameron to succeed Brown, urges Britain’s next leaders to make deep cuts. “It’s essential they take very tough action straight away,” says Lawson, who slashed spending in the 1980s. “The question is: How tough are they prepared to be? How much initial unpopularity are they prepared to ride through?”
Posted by kernow @ 09:07 AM (207 views) Add Comment
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