Could the Euro zone drag the UK down?
Over the last few weeks it has become more and more apparent that trouble in the euro zone is starting to impact upon the UK economy and the cost of finance around Europe and around the world. Despite the fact that the UK is not an integral part of the euro and the euro zone as such there is a massive dependence upon internal trade within Europe which is obviously beginning to suffer. So could the euro zone drag down the UK economy?
How ironic that the UK economy could well be dragged back to square one by problems within Europe when only a few months ago Gordon Brown was ridiculed by many of his European counterparts because of the state of the UK economy. The investment of billions upon billions of pounds of taxpayer's money could be nullified if problems in the euro zone are translated to the UK and we could be headed for a very serious situation.
EU members have for some time been looking to increase the tax take for the central European Union parliament but more and more member states are resisting these moves. Quite where future funding will come from to bailout internal European economies remains to be seen but crunch time is approaching quickly!
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