The European Central Bank lowers interest rates to an all time low of 0.05% forcing the Euro to lose value due to a stagnant European economy, the financial reaction to this is to make the UKs £ stronger and therefore make our exports more costly to European importers, the result will be a drop in manufacturing and exports and with the UKs treasury paying £1bn/week on its loans (and that`s just the interest) you can see that the government will inevitably raise borrowing due to falling tax receipts and scupper Osborne`s deficit reduction plan. Our economy is teetering on deflation now so it won`t be long before the UK is utterly bankrupt, guess who`ll be made responsible for paying it all back.
Posted on: Thu, 04 Sep 2014 14:16:15 +0000
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