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!
Share this..
Related stories
Is the money market rescue starting to kick in?
News that the central libor rate (i.e. the rate charged when banks lend money between each other) has fallen and spreads have reduced is just the news that the stock market needs after a very rocky few days. Rates have actually fallen to the levels they were when Lehmans went under although there is a suggestion that until the economy picks up we may not see substantial further falls.
Cyber criminals hijack HMRC self assessment records
08/02/2016 Cyber criminals are stealing money by hijacking peoples HMRC self assessment records. Fraudsters are using “phishing” techniques to gain personal information, such as taxpayers HMRC login details. Once they have the details, they enter the tax system to change the victims earning information so HMRC offers a tax rebate, which then gets sent to the fraudsters bank account....
Read MoreUK drops out of worlds top ten economies
In a move which is sure to be raised in parliament it has been revealed that the UK has fallen out of the top ten of the most powerful economies in the world. Slipping 3 places to 12th the UK has suffered as a consequence of the slowing economy, high consumer debt and weak public purse which together has seen a number of countries leap frog the UK in the rankings.
While many expect...
UK base rates to remain on hold
This week's meeting of the MPC is likely to keep UK base rates on hold as concerns about the UK economy continue to outweigh the potential problem of high inflation. Despite hopes that the rate of inflation in the UK would fall over the last couple of months it has remained stubbornly high with the Bank of England citing a number of one-off factors as the main reason for this. Many people expec...
Read MoreUK car market records best year since financial crisis
07/01/2014 Britain’s new car market recorded its best year for sales in 2013 since before the 2007 financial crisis. British consumers bought more than 2.26 million vehicles in the past 12 months, representing a rise on 10.5pc on the previous 12 months, consolidating Britain’s position as Europe’s second largest car market, behind Germany. The results have come on the back of growin...
Read More