2.1Economy
According to the British Prime attend David Cameron (2011) the thrift in the United Kingdom is facing pregnant difficulties even though they decided to not participate in the Euro, hence to maintain the British Sterling as currency. Nevertheless, as member of the European Union (EU), the United Kingdom benefits from the set down movement of people, goods and capital and is counted as 6th largest delivery in the world with a GDP of US $2.172 billion in 2010 (economywatch 2010). Although the British economy grew by 0.5% during the last quarter in 2011 (Economist 2011d), prospect figures for the fourth quarter are fairly demoralized due to the fact that the UK is the slowest growing economy in G7 with an alarming unemployment rate of 7.8%. Economywatch (2011) investigated that the main reason for the still current economical problems after the financial crisis and the recession in 2008 would be the recent introduction of an austerity plan containing measures to reduce the al-Quran debt level through tax increases and a cutting of humanity spending.
On the one hand, politicians and responsible persons are referring to assumed long-term benefits, but on the other hand the British economy is confronted with the 2nd highest raft deficit in the world, a trade gap which is still growing and high inflation pass judgment are the consequence. In order to revive Britains economy and to escape the anxiety ab come forward a double-dip recession , Cameron (2011) pointed out three major aims to reach in the near future: confronting their debts, strengthening the competitiveness of the economy and unlocking global trade to chiefly build a new and better economy.
2.2Financial particular Euro Crisis
The United Kingdom is more involved in the euro crisis than they had expected. In detail, the total value of loans British banks have allocated to businesses, banks and public treasuries in Ireland, Spain, Portugal, Italy and...If you want to get a full essay, order it on our website: Ordercustompaper.com
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