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Just a few days ago the main powerhouses behind the EU met to discuss a joint effort to bolster the European economy and pull the EU from the brink of financial collapse. They all shook hands,...
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Thursday 10th July 2008
As concerns build over the potential for trouble in the Middle East the price of oil has again pushed higher, now over $140 a barrel. While there are some in the market who feel that the supply and demand ratio will see the price drift back as economies slow, other believe that the faster growth of the developing nations such as China and India will more than makeup for any slowdown in other economies. When you also throw in the political issues in the Middle East, the picture starts to become a little darker......
In the minds of many, oil holds the key to economic recovery in the majority of economies around the world, with many central banks unable to reduce interest rates because the price of oil is pushing inflation higher. If the price were to fall substantially this would relieve some of the pressure and allow economies to breath again.
If the price remains at current levels or moves even higher, there is a real danger that the UK and other countries around the world will sample the bitter taste of recession once again, something which would likely see the end of Gordon Brown and leave vast numbers of the UK population in serious financial trouble. |
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