EU EURO COUNTRIES: U.K. Succumbs to First Double-Dip Recession Since 1970s: Economy - Bloomberg

Thursday, June 14, 2012

U.K. Succumbs to First Double-Dip Recession Since 1970s: Economy - Bloomberg

U.K. Succumbs to First Double-Dip Recession Since 1970s: Economy - Bloomberg

1 comment:

RAYLOKEJune 14, 2012 at 3:42 AM
same as last year.

The data are “very, very disappointing,” Cameron said in Parliament today, adding that “I don’t seek to try and excuse them. There is no complacency at all.” He pledged to stick to his deficit-cutting plans, saying “the solution to a debt crisis cannot be more debt.”

‘Very Tough’

Chancellor of the Exchequer George Osborne said the U.K.’s economic situation is “very tough” and the government shouldn’t waver on its fiscal plans, which are aimed at eliminating most of the deficit by 2017.

“The one thing that would make the situation even worse would be to abandon our credible plan and deliberately add more borrowing and even more debt,” he said in a statement.
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