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Paul Krugman hails UK economy as best in Europe

Nobel prize-winning economist Paul Krugman has today rode to the defence of Gordon Brown by suggesting that the UK economy is the best placed for recovery in Europe. Krugman believes that the various economic policies introduced by Gordon Brown over the last few months have been both intelligent and "pretty good" with a distinct possibility of a strong recovery in the UK economy in due course.

He also believes that the UK government has not received the credit he believes is deserved in relation to the handling of the significant economic downturn. However, it was also interesting to see that Krugman believes the UK economy has benefited directly from an early fall in the value of sterling which has, in his view, created a significant base from which the UK economy can grow in the short to medium term. The Labour leader will tonight have his fingers crossed that this particular upbeat statement rings true as he looks towards the next general election and the best time to call it.

Interestingly, Paul Krugman believes that the Labour Party could run for next year's general election as "we are the people who brought Britain out of the slump" which is something of a feather in the of Gordon Brown if it does ring true.

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