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CEBR predicts sterling will struggle in 2010

The Centre for Economics and Business Research (CEBR) has issued a report on the UK economy with a suggestion that sterling will fall below parity against the euro. Citing a number of issues within the UK which include the state of the economy, the government budget deficit, national debt and record levels of personal debt the CEBR is concerned that the UK economy could "fall off the edge of a cliff". The association believes that one more setback for the UK economy, wherever that may come from, could be enough to tip business and consumer confidence and push the UK back into a recessionary period.

This is a damning indictment of the UK economy and the way in which the UK government has and continues to handle national finances. The authorities have been warned time and time again that they need to roll out a believable plan to reduce the ever growing budget deficit and also attack the growing national debt. While it is unlikely that the UK credit rating will suffer in the short term, unless we see a repeat of the worldwide economic slowdown, there are concerns about the state of UK finances and how long it will take the economy to truly recover.

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