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Will the UK avoid a double dip recession?

Over the last few weeks the perceived threat to the UK economy was seen by many to be inflation and a reduction in funding in the financial markets. However, while the UK economy is by no means in the clear as yet, there has been significant movement in the right direction but many people believe the next big challenge will come from the euro zone. There is growing concern about the internal problems within Europe which are perfectly reflected in the very difficult and very challenging debt markets.

In many ways it looks as though the UK government will have to battle problems specific to the UK and a larger problem specific to the euro zone. A number of experts suspect that the European Union could use problems within Europe to try and increase the bond between EU members and effectively force the UK to become a more integral part of Europe and at least consider taking on the euro as its main currency. So far it has to be said that the European Union has made a complete mess of the Greek debt debacle which has now spread into other European economies.

Even though the UK has yet to accept the euro there is no doubt that the UK economy is very tightly aligned with that of Europe.

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