IMF: Britain will be last to recover

[Ramon21]

Gotta love this, great blow to the british euro-sceptics.


Britain’s economy is set to keep shrinking well into next year, even after all or most of its leading competitors have begun to enjoy renewed growth, the International Monetary Fund will warn this week.

In a severe blow to Gordon Brown’s hopes for an economic revival to take hold by Christmas, the IMF will predict that the UK economy will shrink in 2010 by a further 0.2 per cent.

The IMF is expected to project that while Britain’s GDP will keep falling over 2010 as a whole, the US economy will grow by 0.2 per cent, the 16-nation eurozone will eke out modest gains of 0.1 per cent, and the Group of Seven (G7) leading industrial economies will, as a whole, also grow by 0.2 per cent. The leaked forecast showed that Japan’s economy expected to stagnate during next year.

[Ramon21]

cnbc: European Central Bank helped europe tackle it's economic problems.

[Dios]

Source linkage? Not really a big surprise though.

[TradCat]

So American and Europe will both recover by perusing completely different policies and Britain won't because it used the same policy as the US and not Europe. I think there is an agenda at play here which is to get the Brits into the eurozone.

It seems far too early to be calling the recovery.

[Ramon21]

So American and Europe will both recover by perusing completely different policies and Britain won't because it used the same policy as the US and not Europe. I think there is an agenda at play here which is to get the Brits into the eurozone.

It seems far too early to be calling the recovery.

European mainland economies are based upon the wealth-creating manufacture of goods for export. The UK's 15-year boom was based upon the uncontrolled borrowing and spending of money which has still to be earned.
So it's no play, no nothing, britain is ********************ed!
And you can't compare britain with america, at all!

[Duth Ealla]

European mainland economies are based upon the wealth-creating manufacture of goods for export. The UK's 15-year boom was based upon the uncontrolled borrowing and spending of money which has still to be earned.
So it's no play, no nothing, britain is ********************ed!
And you can't compare britain with america, at all!

But more tragically is that the Labour party sought to create a more balanced society but used borrowed money to do so.

Rather than taking on the vested class interests in Britiain and saying you can enjoy your great wealth and privelige but you'll have to pay your fair share they said enjoy whay you have we are borrowing our way into a fair sustainable society.

You cant create a sustainable economy on the cheap.

[YellowRedGreen]

Given that they bought half of our agricultural exports and 15% of our industrial exports in 2007 this is hardly good news.

[Gruffalo]

Given that they bought half of our agricultural exports and 15% of our industrial exports in 2007 this is hardly good news.

Exactly what I was thinking

[142857]

In my personal opinion, absolutely useless information. The nature of this crisis is that the IMF are getting every quarterly prediction wrong... Their prediction for 2010? Useless.

The crisis has barely started and Britain is fubar'd, but we don't have a clue who the last to recover will be.

Applying statistical predictions to a completely unknown paradigm change = fail.

Also I'm very disturbed by the opening line of the thread. I don't "love this" at all. Millions of people are going to seriously suffer. It's f*cking tragic.

[Ramon21]

In my personal opinion, absolutely useless information. The nature of this crisis is that the IMF are getting every quarterly prediction wrong... Their prediction for 2010? Useless.

The crisis has barely started and Britain is fubar'd, but we don't have a clue who the last to recover will be.

Applying statistical predictions to a completely unknown paradigm change = fail.

Also I'm very disturbed by the opening line of the thread. I don't "love this" at all. Millions of people are going to seriously suffer. It's f*cking tragic.

Yea I was a bit harsh, just putting a hack on those sceptics.
saying that we were so stupid to join the euro.
We showed them didn't we!