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Is the UK susceptible to another economic wobble?

While Gordon Brown and Alistair Darling continue their attempts to refloat and reinvigorate the UK economy, there appear to be a number of critics circling the UK from overseas. One of the more influential and worrying comments has come from the International Monetary Fund (IMF) which has criticised the UK government for public sector borrowing, increased liabilities and the ongoing fragility of the UK financial sector. So what does this all mean?

When national bodies such as the IMF directly criticise the UK government we need to understand that this is something relatively uncommon in the international political arena. However, the ferocity of the attack on the UK government has caught the eye of many with the IMF suggesting that if we saw another economic wobble in UK many industries and indeed the UK as a whole could be tipped over the edge. The IMF has suggested that the UK financial sector is still under significant pressure and even gone as far as to say that more banks will be nationalised in the short to medium term.

While the UK authorities have done everything they can to increase confidence and liquidity in the financial sector these words from the IMF will concern many experts and investors. The confidence built up over the last couple of months could disappear overnight if even a small percentage of the concerns expressed by the IMF are realised in the short term.

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