The International Monetary Fund has said the UK’s continuing economic weakness means authorities should consider more quantitative easing- printing money and even cutting interest rates.
The body stressed the risks to the UK of the eurozone crisis.
“Unfortunately the economic recovery in the UK has not yet taken hold and uncertainties abound,” said IMF managing director Christine Lagarde. Anyone who witnessed her press conference and her blunderings, would surely have concluded that this unelected figurehead, simply did not understand or comprehend even her own utterings.
True there is a Eurozone crisis and the crisis of capitalism is worldwide and includes the bankrupt USA economy. So clearly, creating more fictitious capital and again hitting the older person’s savings will not solve this crisis.
In the UK, the richest 1000 persons increased their wealth over the past three years by £155 billion. That would pay off our entire budget deficit and would still leave this 0.003% of the population with £30 billion spare.
We are experiencing a worldwide slump which needs our urgent attention.
Ivor Timson 