Might the UK be on course to be the NEXT ICELAND - Discuss via FT

meunier

Further to my previous note - I cannot activate the 'edit' button at the moment - I would like to recommend people take a look at this posting on the FT:

http://blogs.ft.com/maverecon/2008/1...vik-on-thames/

I am glad that someone apart from myself seems to have come to this conclusion

The most vivid two sentences in the referenced article are these:

With enough mistrust, the interest rates will rise by enough to crowd out completely the stimulus to private demand provided by the tax cut or public spending increase. Lack of confidence in the government’s fiscal sustainability would also undermine confidence in sterling. In the worst case, we could see a run on the banks, on the public debt and on sterling all at the same time. This is not the most likely outcome yet, in my view. But it is a distinct possibility.[/

Caveat Emptor

Martin, I would be very interested as to your own considered views on this item if such was of sufficient inspiration for a blog, say, or a discussion on TV. (You never know this might make a useful pitch given that it might, as you say, be ‘of interest’).