UK - Sick Man of Europe

LONDON - The UK will pay a heavy price for its over-reliance on the financial services sector - with the recession stretching out over another quarter, says Robin Bew, Editorial Director and Chief Economist at the Economist Intelligence Unit.

In his monthly Global Forecast programme he says that this could pose a return to the 1970s position of the UK as the sick man of Europe. With billions spent bailing out failing banks, Mr Bew warns that little is left to assist the rest of the economy. France and Germany, in contrast, have given generous help to all sectors of their economies. That explains their early exit from recession.

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Source: Economist Intelligence Unit

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