|
UK Economy May Be Allowed To Crash And Burn Like US
Banking Giant
Analysts, Economists: Britain May Become Lehman
To Greece's Bear Stearns
|
|
|
Leading financial analysts and economists have warned that Britain
may crash and burn following the European bailout of Greece,
comparing the situation to that of Lehman Brothers following
the rescue of Bear Stearns in 2008.
“The big question I am asking myself is whether Greece
is Bear Stearns” Anthony Fry, senior managing director
at Evercore Partners, told CNBC.
“What I really fear is that if Greece is Bear Stearns
then the UK is Lehman Brothers.” Fry, who previously worked
for Lehman added.
While other economists disagree, indicating that the UK can
and will continue to devalue and print money, Fry believes the
country's huge deficit puts it firmly at risk.
“I can’t believe (the UK) can avoid trouble,"
he said. "The current coalition talks are like arguing
over a birthday cake.” Fry said, alluding to the ongoing
negotiations between the political parties following the indecisive
election last week.
“Once they decide how much of the cake they get they
realize no one bothered to bake the cake.” Fry added.
“My big fear is that after (Chancellor of the Exchequer)
Alistair Darling refused to support the EU/IMF/ECB bailout of
the euro zone bond market, the euro zone may stand by and do
nothing when the UK gets into trouble,” he said.
Fry's warning is particularly pertinent following comments
by senior French policymaker Jean-Pierre Jouyet,
who today indicated that Britain will be punished for refusing
to fully sign up to the trillion dollar bailout of the eurozone,
despite pledging €60bn in taxpayer funds.
“The English are very certainly going to be targeted
given the political difficulties they have. Help yourself and
heaven will help you. If you don’t want to show solidarity
to the eurozone, then let’s see what happens to the United
Kingdom,” the head of the French markets regulator told
Europe 1 radio.
Anthony Fry added that he expects to see a strengthening of
the Euro through consolidation and centralization of fiscal
policy in Europe, echoing
comments made yesterday by other leading bankers
and economists.
“Talk of the euro breaking up is nonsense," Fry
said. "What we will get is tighter fiscal cooperation.
If Germany is lending money to Spain it will demand tough measures
on spending.”
----------------------------------------------------------------------------------------------------------------------
Alex
Jones LIVE, A Fourth Hour Of Streaming TV Now Added To The Infowars
Radio Show
Click here to get your subscription today!
----------------------------------------------------------------------------------------------------------------------
|
INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
|
|
