ktlight
9th December 2011, 08:58
FYI:
"The British Chancellor of Exchequer George Osborne has warned of the impact of the European single currency collapse on the UK economy.
Speaking to the House of Lords Economic Affairs Committee, the Chancellor said the breakup of the Euro would do 'enormous damage' to the country's financial situation, taking years to recover from damages.
"The collapse of the euro, the disintegration of the euro, would do enormous damage to the British economy. It would do huge damage to the British economy, and I think those who say we'd have a year or two of hardship and then bounce back out of it, may be somewhat optimistic," he said.
"I'm confident we have got the right plans in place. I would give fair warning that however much contingency planning you do, a disorderly collapse of the euro would do huge damage to the UK, no matter how much planning you do to make matters less worse."
Earlier, Britain's Organisation for Economic Cooperation and Development (OECD) and the Office for Budget Responsibility (OBR) warned the UK officials that the country would plunge back into recession due to the eurozone crisis."
source
http://www.presstv.ir/detail/214595.html
"The British Chancellor of Exchequer George Osborne has warned of the impact of the European single currency collapse on the UK economy.
Speaking to the House of Lords Economic Affairs Committee, the Chancellor said the breakup of the Euro would do 'enormous damage' to the country's financial situation, taking years to recover from damages.
"The collapse of the euro, the disintegration of the euro, would do enormous damage to the British economy. It would do huge damage to the British economy, and I think those who say we'd have a year or two of hardship and then bounce back out of it, may be somewhat optimistic," he said.
"I'm confident we have got the right plans in place. I would give fair warning that however much contingency planning you do, a disorderly collapse of the euro would do huge damage to the UK, no matter how much planning you do to make matters less worse."
Earlier, Britain's Organisation for Economic Cooperation and Development (OECD) and the Office for Budget Responsibility (OBR) warned the UK officials that the country would plunge back into recession due to the eurozone crisis."
source
http://www.presstv.ir/detail/214595.html