Tuesday 8 September 2009

Britain's economy less stable than Peru

Telegraph
"Britain has a less stable economy than Montenegro or Peru, as a result of the mountain of government debt raised to bail out the banks, according to the World Economic Forum....
The report's authors said: "A significant and growing weakness remains the UK's macro-economic instability, with low national savings, an exploding public-sector deficit (related in large part to recent efforts to bail out the financial sector), and consequential public indebtedness."The soundness of British banks was ranked 126th in the world, after war-torn Burundi and only four places above Iceland."

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