Ex-IMF chief economist Simon Johnson, although now no longer in his role at the IMF has a lot of weight behind his name and his words should be heard. He had some worrying things to say in an interview with the BBC.
Talking to the BBC, Simon Johnson said the UK should be seen in the same category of countries as Greece and Spain, who are facing severe debt problems.
Business / times and situations have been hard over the past 18months with many forced to cut-back heavily or worse into administration, closure or bankruptcy. Today, the BBC reported that the UK economy was out of the recession:<
The UK economy has come out of recession, after figures showed it had grown by a weaker-than-expected 0.1% in the last three months of 2009.BBC
Despite recovery signs such as an unemployment fall for the first time in 18months, many are still very tentative about the so called announced ‘recovery’ . At a nice 0.1% of growth it is hardly riveting or re-assuring news. The report was prompted by an ONS announcement today broadcast on Sky News that the UK had emerged from its recession.
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