It is rumored in the media that United Kingdom is under financial trouble. Morgan Stanley the well known Investment Banker from USA has written a note, that UK may be in trouble in coming years because of fiscal creditability. The current economic situation may force the Bank of England to raise interest rates.
The high interest rates would be bad for the British Economy. Like this many European countries are under financial pressure. Now, many say that the recession is over and hereafter we are going to see steady growth in world economy.
The fact is, it is not over, and it has just started. It started in US with series of Bank failures, followed by Dubai crisis and followed by Greece crisis. Now we are hearing about UK.
This really foretells that World economic recession is not over. It has just started. Just the beginning itself has created lot of job loss in developed and developing countries. If it continues for another 3 to 5 years, then the situation in coming years will be very worse than 2008.
If this happens, then nobody’s job is secured. So be prepared for that.
nice info sob :D
ReplyDeleteim so sad for that news...its my dream to work abroad...
ReplyDeleteIt is interesting to revisit this post at the end of 2011, with almost 2 years of uncertainty over the fiscal wellbeing of the entire Euro zone and a downgrade of the US economy along with worrisome trends in the Indian economy too.
ReplyDeleteWhat is worrying is that it is still unclear how many of our large corporations worldwide have suppressed the truth about their liabilities, truths that are coming out as time passes, and the burden of which is being passed on to the common man in the form of bailouts, taxes, and austerity measures.