Thursday, April 29, 2010

Warning for Britain as financial chaos spreads to Spain


Yesterday David Cameron, the Conservative leader, suggested Britain could follow Greece into crisis. “Greece stands as a warning to what happens if you don’t pay back your debt,” he said.

David Miliband, the Foreign Secretary, accused Mr Cameron of “economic illiteracy”. Lord Mandelson, the Business Secretary, insisted that Britain was in a “very, very, very different situation” from Greece, because the UK retained its AAA rating.

But Neil Mackinnon, an economist from VTB Capital, said it was “a mystery” that Britain had not yet been downgraded.

Angel Gurria, the head of the Organisation for Economic Co-operation and Development, said “contagion has already happened”, likening the crisis to the flesh-eating bug Ebola.

1 comment:

Penny Stock Blog said...

This whole euro thing just goes on and on' their does not seem to be an end in sight theirs no way out of this. Their have been attempts to resolve the debt issues but none of them are working.