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  • July 09th, 2016
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The element that makes us think of this possibility is the fragile situation in the domestic demand of the economy affected by the problems in the labour market. Higher taxes combined with cuts in spending, reduce the prospects for economic recovery and possibly end up hitting on two sectors that are on the brink of a new crisis as they are the banking and real estate sector. Should the British Government do, let the economy recovers by itself or rebuild stimuli? If there is another package of significant fiscal stimulus in Britain, then would the qualification be at risk, warned Riley, showing that there is a single road to hold the credit rating. Meanwhile, warnings that accumulate around the British debt are making their Credit Default Swaps (CDS secure debt default of) Britain-) begin to rise and will make financing more expensive for Gordon Brown’s Government. Despite the announcements made in April to achieve greater fiscal discipline, public accounts deficit continues to rise. Steven Hawkes remembered days ago in an article in The Sun that the British Government had to borrow by 77. 600 million pounds sterling between the months of April and September of this year, more than double in relation to the funding needed for the same period in 2008. For this year, the International Monetary Fund (IMF) has estimated that the fiscal deficit of England will reach 11.6% of its product gross domestic (GDP) figure which would have been considered scandalous by the international body in case it is a developing economy. The British pound, meanwhile, appears as a damnificada by this situation since the greatest risk of a downgrade in the credit rating of public debt will reduce the demand for assets denominated in that currency, pressuring a currency depreciation. Ashley Seager in an article for The Guardian highlighted the immediate impact suffered Sterling quote once known the Ficht warning.