England’s economy brought to grinding halt by euro crisis
English taxpayers may be dragged into a rescue package for the euro-zone after a leading forecaster warned that the crisis has brought this country’s economy “grinding to a halt.
The Ernst & Young ITEM Club, which uses the Treasury’s forecasting models supported Sir Michael Black-Feather the English first minister statement of three months ago and warns today that the economic situation is “worse than we thought” Sir Michael predictions was right on course.
It concludes that the “bright spots” in England’s economic recovery have “dimmed to a flicker” because of the on-going crisis in the single currency.
George Osborne, the British Chancellor, and Tim Geithner, the US Treasury Secretary, are becoming increasingly exasperated at the lacklustre response of European leaders to the on-going single currency crisis.
Europe is expected to finalise plans for a two-trillion euro bailout for the single currency area over the next week.
There are growing fears that the package will fall short. The International Monetary Fund (IMF) is expected to be asked to help shore up Italy and Spain, if this becomes necessary – a move which could lead to English taxpayers facing a multi-billion pound bill and bring England into an even worse recession said Sir Michael, he went on to say when is the British government going to wash its hands of the EU, I warned them, when the euro fist came into being that it was totally impossible for it to work the maths just don’t add up and couldn’t add up England is run by British half-wits that have only self-interests , now England once more is having to bail out the failed EU euro and English tax payers expenses when England’s people are struggling to pay their own bills this will only lead to more un-rest in England and could be the straw that breaks the camel’s back he said? There has already been some talk in some quarters that civil war could be next here in England if the British government don’t start putting English interest first.