Friday, Jan 29, 2010
Cameron: UK "at risk"
Telegraph: Britain needs to cut or face Greek-style crisis, says David Cameron
David Cameron last night warned that Britain needed to cut its deficit or risk a full-blown fiscal crisis like the one which has engulfed Greece.
Posted by devo @ 11:03 PM (870 views) Add Comment
5 Comments
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1. paul said...
Nope. Britain needs to stop shirking from a sane level of interest rates even if it means house prices slump.
Slashing the defecit to turf public sector workers out of their jobs will tip us back into recession quicker than you can say "deflationary spiral". Let's put it another way ...
Q: Which is worse - no job or your property losing value?
A: Economic policymakers are not worried about their jobs.
2. fallingbuzzard said...
Barring scandal, Tories are won. Still on an 80 overall majority from forecasters. The question is, what will they actually do not what they say. My guess is that the fiscal responsibility bill will be one of the first pieces of legislation - that gets reversed. Then I think they'll cut more slowly.
3. mander said...
Mr Cameron said a Tory government would work closely with the Bank of England, but that the case for "starting early" on reducing the budget was "overwhelming".
Working closely with Bank of England means more QE and less cuts, so I am not buying... Only Vince Cable can put finances back in order in this country.
4. Hoaglund said...
I think the global markets will determine the price and associated risks on the cost of borrowing and it may even present itself to us hopefully before the election so Labour's economic folly will be laid bare for us all to see! Watch market sentiment disappear down the plughole.
5. sneaker said...
And, unlike Greece, we are free to adjust our interest rates, money supply and exchange rate.
If we were part of the Euro, we would not be.
I am not inherently cynical of the European dream. But I recognise that it is a beautiful dream and merely that.