I M F state UK economy to grow by 2%

[Obelix 11]

If it didn't work to begin with how come Osborne let the BoE continue with it? Is there any record of him objecting?

 

I seem to recall someone setting the BoE free from political control now who was that....?

[I1L2T3 10]

I seem to recall someone setting the BoE free from political control now who was that....?

 

I hope you realise it doesn't really work like that. The governorship is a political role in many ways. The governor has to work closely with the Treasury.

[Anna Glypta 10]

I hope you realise it doesn't really work like that. The governorship is a political role in many ways. The governor has to work closely with the Treasury.

 

It works exactly like that when the Chancellor (Gordon Brown) takes away the powers of the BoE to regulate financial services and sets up a Quango (FSA) to regulate them with a "light touch". The banks and financial institutions in the UK weren't in trouble by buying dodgy debt before that.

 

For someone who claims to be no fan of Labour you seem selectively blind to the situation that they created and Osbourne inherited. You come across as the sort of person who happens upon a motorway pile up and then blames the emergency services for the time it's taking to clear up the mess. It is always easier to cause a crass than to resolve the consequences.

 

I take heart in the fact that the UK economy is outperforming every other economy in the EU as well as having one of the lowest levels of debt interest. . Which considering the state the economy was in in 2010 is no mean achievement. I'm hoping that by 2015 the signs are so obvious that a blind man like you can see it.

[I1L2T3 10]

It works exactly like that when the Chancellor (Gordon Brown) takes away the powers of the BoE to regulate financial services and sets up a Quango (FSA) to regulate them with a "light touch". The banks and financial institutions in the UK weren't in trouble by buying dodgy debt before that.

 

For someone who claims to be no fan of Labour you seem selectively blind to the situation that they created and Osbourne inherited. You come across as the sort of person who happens upon a motorway pile up and then blames the emergency services for the time it's taking to clear up the mess. It is always easier to cause a crass than to resolve the consequences.

 

I take heart in the fact that the UK economy is outperforming every other economy in the EU as well as having one of the lowest levels of debt interest. . Which considering the state the economy was in in 2010 is no mean achievement. I'm hoping that by 2015 the signs are so obvious that a blind man like you can see it.

 

I can't say it enough I'm not defending Labour. I'm discussing the record of the current chancellor. And his record is disastrous.

 

As for yourself you seem to be selectively ignoring the fact that by most of the targets he set himself he has failed.

[Mecky 10]

There's always an alternative. But I've seen no evidence that an alternative approach would have yielded a better outcome. There are 2 dozen counties in the Eurozone, all of which tried their own alternative approach to the recession. The fact is that several are now bankrupt, several are on the verge of bankrupcy, many are strugling with high premiums because of excess borrowing, most are back in recession, none have growth to match the UK.

 

So tell me about this alternative that you know would have helped our economy more.

 

So how do you feel, that the media, I'm not sure where they got their figures from, last year put the UK economy slighly infront of Portugal and Greece, may have been 20th or 22nd?

[Anna Glypta 10]

So how do you feel, that the media, I'm not sure where they got their figures from, last year put the UK economy slighly infront of Portugal and Greece, may have been 20th or 22nd?

 

Gordon and Alistair took us a long way down the slippery slope didn't they? So you will agree to be in a position where we are top of the pile re growth from those depths is a good result.

[I1L2T3 10]

Gordon and Alistair took us a long way down the slippery slope didn't they? So you will agree to be in a position where we are top of the pile re growth from those depths is a good result.

 

Top of the pile?

[Hillpig 10]

So how do you feel, that the media, I'm not sure where they got their figures from, last year put the UK economy slighly infront of Portugal and Greece, may have been 20th or 22nd?

 

The Labour party where the party in power when the economy nosedived. You cannot blame the Tories for the present situation.

 

---------- Post added 11-07-2013 at 15:39 ----------

 

Gordon and Alistair took us a long way down the slippery slope didn't they? So you will agree to be in a position where we are top of the pile re growth from those depths is a good result.

 

 

 

You are quite correct, it is by any estimation a good result.

[Anna Glypta 10]

Top of the pile?

 

If you weren't aware of that why are you bothering to debate at all?

 

 

 

"More economic woes for the #Netherlands as its economy shrinks by 0.1% in the 1st quarter of 2013 making it 1.7% smaller than a year ago"

 

"Italy is now in its longest recession since at least 1970, after its economy shrank again. Italian GDP fell by 0.5% in the first quarter of this year, meaning its economy contracted by 2.3% over the last 12 months.

Italy has now been shrinking for seven quarters in a row -- the longest recession since quarterly records began 43 years ago (according to Reuters)."

 

"German GDP misses forecasts

 

Disappointing GDP data from Germany, which posted growth of just 0.1% in the first quarter of 2013.

 

That's rather weaker than the 0.3% growth expected.

 

The German contraction in the fourth quarter of 2012 has also been revised downwards to -0.7% (from -0.6%).

 

So the eurozone's largest economy has only just struggled back from its winter torpour."

 

"This is the third time France has fallen into recession since the financial crisis began, my colleague Angelique Chrisafis flags up."

"France is officially in recession. The economy shrunk by 0.2% in the first quarter. Today is 1st anniversary of Hollande in power."

 

"Today’s latest Q1 GDP numbers are expected to show that the European economy is far from on the right track as EU leaders continue to argue about the merits or otherwise of banking union while economic growth continues to remain elusive and unemployment continues to explode higher, especially for those under 25."

 

"Austria's economy flatlined in the first three months of 2013. Data just released showed that its GDP was unchanged at 0.0%. That follows a 0.2% decline in the last quarter of 2012."

 

"

 

Gloomy data from the Czech Republic this morning -- GDP shrank by 0.8% in Q1 2013. That follows a 0.2% contraction in Q4 2012.

 

The Czech Republic has now been in recession for more than a year..."

 

"The Dutch economy has contracted again, with GDP falling by 0.1% in the first quarter of this year.

 

The Netherlands entered recession three months ago, with unemployment rising and its housing market bubble having burst.

 

Once one of the strongest-loooking members of the eurozone, the Netherlands is now feeling the full force of the region's decline (there's a good piece on Spiegel here)."

 

"The British economy, for once, is outshining its European neighbours.

 

We learned two weeks ago that UK GDP grew by 0.3% in the first quarter of this year, avoiding another recession. That performance looks even more creditable now, given the economic traumas across the Channel."

 

"

Eurozone recession in full

 

Here's the full details.

 

The eurozone economy shrank by 0.2% in the first three months of this year, as its recession dragged on -- dragged down by contractions in France, Spain, Italy, and the Netherlands.

 

The wider EU economy shrank by 0.1% during the quarter.

 

This follows a 0.6% drop in eurozone GDP in the last quarter of 2012, and a 0.5% fall acoss the EU. So, the pace of decline is slowing.

 

But the data means the the eurozone economy is 1% smaller than a year ago, while EU GDP is 0.7% smaller."

 

"Greece and Cyprus also kept shrinking in the first quarter of the year:

 

Greek GDP (Q1 A) Y/Y -5.3% vs. Exp. -5.3% (Prev. -5.7%)

— Fabrizio Goria (@FGoria) May 15, 2013

 

Cyprus GDP SA (Q1 P) Q/Q -1.3% (Prev. -1.1%, Rev. -1.2%)"

 

"The eurozone has slumped into its longest recession ever, after economic activity across the region fell for the sixth quarter in a row.

 

Economic output across the single currency area fell by 0.2% in the first three months of 2013, statistics body Eurostat reported today (see 10.10am).

 

France, Spain, Italy and the Netherlands all saw their economies shrink as the economic crisis in the eurozone continued to hit its largest economies.

 

Eurostat’s figures showed that the eurozone economy has now contracted by 1% over the last year, putting further pressure on leaders as unemployment climbs to new record highs.

 

The 0.2% contraction in the first quarter of 2012 was an improvement on the 0.6% drop recorded between October and December, but analysts warned that the eurozone’s economic outlook is darkening."

Edited July 11, 2013 by Anna Glypta

[I1L2T3 10]

If you weren't aware of that why are you bothering to debate at all?

 

 

 

"More economic woes for the #Netherlands as its economy shrinks by 0.1% in the 1st quarter of 2013 making it 1.7% smaller than a year ago"

 

"Italy is now in its longest recession since at least 1970, after its economy shrank again. Italian GDP fell by 0.5% in the first quarter of this year, meaning its economy contracted by 2.3% over the last 12 months.

Italy has now been shrinking for seven quarters in a row -- the longest recession since quarterly records began 43 years ago (according to Reuters)."

 

"German GDP misses forecasts

 

Disappointing GDP data from Germany, which posted growth of just 0.1% in the first quarter of 2013.

 

That's rather weaker than the 0.3% growth expected.

 

The German contraction in the fourth quarter of 2012 has also been revised downwards to -0.7% (from -0.6%).

 

So the eurozone's largest economy has only just struggled back from its winter torpour."

 

"This is the third time France has fallen into recession since the financial crisis began, my colleague Angelique Chrisafis flags up."

"France is officially in recession. The economy shrunk by 0.2% in the first quarter. Today is 1st anniversary of Hollande in power."

 

"Today’s latest Q1 GDP numbers are expected to show that the European economy is far from on the right track as EU leaders continue to argue about the merits or otherwise of banking union while economic growth continues to remain elusive and unemployment continues to explode higher, especially for those under 25."

 

"Austria's economy flatlined in the first three months of 2013. Data just released showed that its GDP was unchanged at 0.0%. That follows a 0.2% decline in the last quarter of 2012."

 

"

 

Gloomy data from the Czech Republic this morning -- GDP shrank by 0.8% in Q1 2013. That follows a 0.2% contraction in Q4 2012.

 

The Czech Republic has now been in recession for more than a year..."

 

"The Dutch economy has contracted again, with GDP falling by 0.1% in the first quarter of this year.

 

The Netherlands entered recession three months ago, with unemployment rising and its housing market bubble having burst.

 

Once one of the strongest-loooking members of the eurozone, the Netherlands is now feeling the full force of the region's decline (there's a good piece on Spiegel here)."

 

"The British economy, for once, is outshining its European neighbours.

 

We learned two weeks ago that UK GDP grew by 0.3% in the first quarter of this year, avoiding another recession. That performance looks even more creditable now, given the economic traumas across the Channel."

 

"

Eurozone recession in full

 

Here's the full details.

 

The eurozone economy shrank by 0.2% in the first three months of this year, as its recession dragged on -- dragged down by contractions in France, Spain, Italy, and the Netherlands.

 

The wider EU economy shrank by 0.1% during the quarter.

 

This follows a 0.6% drop in eurozone GDP in the last quarter of 2012, and a 0.5% fall acoss the EU. So, the pace of decline is slowing.

 

But the data means the the eurozone economy is 1% smaller than a year ago, while EU GDP is 0.7% smaller."

 

"Greece and Cyprus also kept shrinking in the first quarter of the year:

 

Greek GDP (Q1 A) Y/Y -5.3% vs. Exp. -5.3% (Prev. -5.7%)

— Fabrizio Goria (@FGoria) May 15, 2013

 

Cyprus GDP SA (Q1 P) Q/Q -1.3% (Prev. -1.1%, Rev. -1.2%)"

 

"The eurozone has slumped into its longest recession ever, after economic activity across the region fell for the sixth quarter in a row.

 

Economic output across the single currency area fell by 0.2% in the first three months of 2013, statistics body Eurostat reported today (see 10.10am).

 

France, Spain, Italy and the Netherlands all saw their economies shrink as the economic crisis in the eurozone continued to hit its largest economies.

 

Eurostat’s figures showed that the eurozone economy has now contracted by 1% over the last year, putting further pressure on leaders as unemployment climbs to new record highs.

 

The 0.2% contraction in the first quarter of 2012 was an improvement on the 0.6% drop recorded between October and December, but analysts warned that the eurozone’s economic outlook is darkening."

 

Couple of things:

 

1. How does any of that make us top of the pile?

 

2. Can you provide links for everything you quoted?

[Hillpig 10]

Couple of things:

 

1. How does any of that make us top of the pile?

 

2. Can you provide links for everything you quoted?

 

 

If you dispute the figures surely you should provide your rebuttal rather than ask the person posting to expand on what seems a perfectly valid statement.

[I1L2T3 10]

If you dispute the figures surely you should provide your rebuttal rather than ask the person posting to expand on what seems a perfectly valid statement.

 

I'm simply asking for the links that should have been included. What is the problem with that?

 

Once I have the full information and sources I can work through it all and respond fully.

 

And yes I may choose to dispute things that are incorrect, like I did with Anna's claim of 5% UK growth.