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UK economy off sick bed but still needing treatment

Mervyn King, the Gov of the Bank of England, has today suggested that the UK economy is starting to show signs of growth although a full recovery may still be some way off. In simple terms, the UK economy is off its sickbed but still in need of medication in the shape of the government's quantitative easing program. So what is going on?

While Mervyn King fully expects the UK economy to show growth in the fourth quarter of 2009 he believes that there are still a number of pitfalls to avoid before a full-blown recovery will be in place. These comments would appear to strengthen the argument that the UK economy could well be in for a "double dip" phase which could see a further reduction in growth in the second half of 2010. If this were to happen it would effectively negate the massive amounts of taxpayer's money already used to assist the economy and put the UK government back to square one.

When you consider the amount of money which has been used over the last few months, to do the same would in simple terms bankrupt the UK. We are entering a very difficult and very volatile phase of the UK economic recovery.

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