Thursday, June 24, 2010

Roubini on Britain deficit problem

Nouriel Roubini: tackling the UK deficit

Author and economist Nouriel Roubini One of the world's leading economists outlines the downside risks to the UK economy and sterling as the Government attempts to tackle the deficit. the new British Government has a "slight honeymoon" on tackling the country's massive budget deficit.
"A lot of it has to be done early because the country wants to differentiate itself from Greece, from Spain, from Portugal.

"The signal to the markets should be: yes, we have a deficit, we have a large stock of public debt but now there's a new Government committed to reducing this deficit.

"If that credibly occurs then interest rates are not going to go higher, inflation is not going to go higher."

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