May 21, 2012
Will Great Britain Survive the Euro Crisis?
Niall Ferguson, Newsweek
Like much of Europe, the U.K. economy now finds itself in a double-dip recession. Last week the Bank of England once again revised its growth forecast downward. Although (mercifully) outside the euro zone, Britain will suffer even more if the crisis over Greece escalates into a full-scale breakdown of the European monetary union. International financial crises are not good for international financial centers.
TAGGED: David Cameron, Scotland, Wales, Europe, UK, Eurozone