Friday, March 20, 2009

What if it happens in the UK?

The central bank of crisis-hit Iceland has cut its interest rate to 17%

Sorry to spam the HPC site today - but here is what happens when you are well and truly cornered and need the IMF to help you out. Interest rates DOWN to only 17%. Handle QE with Care, Alistair Darling

Posted by growler @ 09:56 AM (860 views)
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2 thoughts on “What if it happens in the UK?

  • stillthinking says:

    The fact is that if Gordon Brown had the decency of Callaghan, we would already be in the arms of the IMF. There was a choice of money, IMF or QE.
    Iceland also had the choice of IMF or printing.

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  • “Iceland’s economy is forecast to shrink by almost 10% this year.” I reckon all forecasts for our economy for the year ahead are wildly optimistic. I wouldn’t be surprised to see a figure close to this for us.

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